Fundstrat's Sean Farrell analysis states that Ethereum (ETH) has an average cost of $2,241, with a current price of $1,934, resulting in an average loss of 22% for investors. Comparing historical data, ETH could potentially drop to as low as $1,367 or $1,770. The current loss level is as high as 9%, but the long-term return could be +81%. The risk/reward ratio looks positive, suggesting the price is approaching the bottom.

On December 21, news came that Sean Farrell, the head of cryptocurrency strategy at Tom Lee's Fundstrat, responded on the X platform regarding the "discrepancy between his market views and those of Tom Lee". He stated that the cautious views from the earlier part of the year reflected risk management rather than a completely bearish stance. The current market pricing is almost perfect, but risks still exist, including government shutdowns, trade fluctuations, uncertainties in artificial intelligence capital expenditures, and changes in the Fed chair. At the same time, high-yield bond spreads are tightening, and cross-asset volatility is low. Recently, fund flows have also shown divergence. The current benchmark assessment suggests that a rebound may occur at the beginning of the year, followed by another pullback in the first half of the year, providing more attractive opportunities for year-end positioning. If the judgment is wrong, I would prefer to wait for confirmation signals. For investors following this outlook, I still expect Bitcoin and Ethereum to

Sean Farrell of Fundstrat responded to the market's divergent views, emphasizing that different analysts have independent research frameworks and strategies. He focuses on a high encryption asset portfolio with a more aggressive approach, while Tom Lee emphasizes the long-term strategies of large institutions. He believes that current market risks still exist, but expects Bitcoin and Ethereum to challenge new highs by the end of the year.

Sean Farrell, from Tom Lee's fund, stated that the crypto market is expected to face risks in early 2026, potentially causing Bitcoin to drop to $60,000-$65,000 and Ethereum to fall to $1,800-$2,000. He believes these prices will present good entry points, with a year-end target of $115,000 for Bitcoin and $4,500 for Ethereum.

According to Bloomberg, on Wednesday, Bitcoin (BTC) continued its rebound momentum, reaching a two-week high. It rose as much as 2.6% intraday to around $93,965, marking its highest level since November 17, before retreating to about $93,300. Ethereum and other major tokens also saw slight increases as the cryptocurrency market attempted to regain momentum after weeks of sell-offs. However, market sentiment remains fragile, with investors staying cautious. Since Bitcoin broke its all-time high of $126,000 in early October, the market has experienced a sharp correction, with the total market value of digital assets evaporating by more than $1 trillion. Sean McNulty, Head of APAC Derivatives Trading at FalconX, noted, “We haven’t seen much buying interest above current levels, and market sentiment remains fragile.” Capital inflows have also been limited. Bloomberg data shows that the 12 US Bitcoin ETFs attracted only about $59 million in inflows on Tuesday, which is considered “modest.”