Tom Lee Sees S&P 500 at 8,000, Names Ethereum the Next Rally Leader

Tom Lee of Fundstrat said he expects the S&P 500 to reach 7,900–8,000 this month, arguing that a recent deleveraging washout left investor sentiment too bearish and created room for a further chase higher. He cited strong earnings, cooling inflation concerns and ongoing AI spending as key supports. Lee also highlighted Ethereum as an unexpected rally leader alongside the Magnificent Seven and software stocks, though he said ETH would not directly drive the S&P 500. The piece frames Ethereum as part of a broader market-risk appetite trade, with added support from rising ETF inflows and whale accumulation. Overall, the article is bullish for ETHUSD as a sentiment and flow-driven narrative rather than a price-specific catalyst.