Tom Lee Says Bitcoin Is ‘Highly Sensitive To Liquidity’ — $94,000 May Be Next
Posted On November 6, 2025
Fundstrat’s Tom Lee has warned that tightening market liquidity and risk headwinds continue to weigh on Bitcoin (CRYPTO: BTC) and other cryptocurrencies.
Liquidity Headwinds Drag On Bitcoin
Speaking on CNBC on Wednesday, Lee said Bitcoin remains “highly sensitive to liquidity conditions” and broader market risk sentiment.
He pointed to a mix of macro headwinds — from the U.S. government shutdown to a hawkish Federal Reserve stance — as catalysts weighing on digital assets.
“The Treasury general account has been building cash,” Lee explained.
“That created a cascade of problems that put pressure on crypto.” He added that liquidity stress is a leading factor for Bitcoin’s volatility, noting that as funding pressures ease, “headwinds can turn into tailwinds.”
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