Bitcoin’s Big Comeback? Tom Lee Says Washington’s Gold & Silver Surge Could Be the Key!

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Welcome to the US Crypto News Morning Briefing-where the only thing more volatile than the markets is your coffee’s temperature.

Grab a coffee and settle in-markets are moving so fast, even your grandma’s stock portfolio is doing the cha-cha. Gold and silver are surging like they’ve discovered a time machine to 2008, crypto is wobbling like a toddler on roller skates, and Washington’s policy plays are stirring uncertainty faster than a witch’s cauldron. But according to Tom Lee, somewhere in the chaos, a turning point may be quietly forming-probably while you’re scrolling through your phone, oblivious.

Crypto News of the Day: Tom Lee Says White House Front-Loading Midterm Wins Is Wrecking Markets

Fundstrat Global Advisors’ Tom Lee is sounding a cautious yet optimistic note for crypto investors, arguing that recent turbulence in Bitcoin and Ethereum may be temporary. Or, as we like to call it, “a brief hiatus before the real drama begins.”

Appearing on CNBC’s Squawk Box, Lee attributed the early-year surge in gold and silver prices to Washington, D.C.’s policy maneuvers. Because nothing says “I’m in charge” like making gold and silver act like they’re on a sugar high.

He says the White House’s plays have temporarily “hijacked” risk appetite, creating a “vortex” that drew capital away from crypto despite strong fundamentals. Because nothing says “I’m a financial genius” like pretending you’re not the reason everyone’s panicking.

Gold spiked to $4,954.99 per ounce, a 6.5% daily jump, while silver surged 13.66% to $87.53. This marks the largest single-day gains for both metals since the 2008 financial crisis. Because apparently, the economy’s been living in a time loop since 2008.

🚨 WARNING: SOMETHING BIG IS COMING!

GOLD: $4,958
SILVER: $87

That’s a 6.5% and 14% pump in ONE day.

It’s the BIGGEST daily gain since 2008.

This is a WARNING you gotta understand if you hold stocks, crypto, or anything else.

Know what happened in 2008 to every market except…

– Wimar.X (@DefiWimar) February 3, 2026

Lee tied this frenzy to crypto’s ill-timed deleveraging in October 2025. Because nothing says “I’m prepared” like wiping out your leverage just as the market goes haywire.

“The crypto industry doesn’t have any leverage right now,” he said. “Gold and silver’s performance sucked all risk appetite towards the precious metals trade.”

Lee also highlighted Washington politics as a central driver of market uncertainty. With midterms approaching, he criticized the White House for “deliberately picking more winners and losers early,” front-loading its agenda and keeping markets “hostage.” Because nothing says “democracy” like holding the economy hostage for political gain.

Speculation around the next Federal Reserve chair adds further volatility, with Lee warning that markets will test the appointee’s resolve on policy and rates, echoing patterns seen with former chairs Janet Yellen and Jerome Powell. Because the Fed’s like a dating app-everyone’s got their own agenda.

While the consensus expects Republicans to lose the House, Lee noted that a GOP retention could deliver a “positive surprise.” Because nothing says “surprise” like a political upset in a world already full of them.

Signs Point to a Crypto Bottom Amid Gold and Silver Frenzy

Despite near-term headwinds, Lee sees signals that crypto may be bottoming. Fundstrat advisor Tom DeMark believes “time and price” alignment has been reached, with Bitcoin back above $78,000 and Ethereum nearing $2,300. Because apparently, Bitcoin’s just taking a nap before it goes viral again.

Lee added that Ethereum’s active addresses are “going parabolic,” as Wall Street increasingly integrates digital assets. Because nothing says “I’m serious” like Wall Street finally catching up to the 2010s.

“All the pieces are in place for crypto to be bottoming right now,” he said, contrasting price weakness with network activity.

This view aligns with analysts’ notes on potential capital rotation, with some highlighting gold’s 11% rebound from recent lows, adding $3.07 trillion, and silver’s 20% surge, reclaiming $800 billion. Because apparently, the economy’s been binge-watching 2008 replays.

Analyst Bull Theory compares this setup to August 2020, when gold topped at $2,075, Bitcoin fell 20%, then rallied 559% over eight months as capital flowed back into risk assets. Because nothing says “recovery” like a 559% rally after a 20% drop.

With the ISM Manufacturing Index at 52.6%, the analyst suggested a similar rotation may be underway:

“Gold likely topping, and Bitcoin already having corrected, we could now see a rotation into risk-on assets,” they said.

However, not all commentary is bullish. Analyst Wimar.X warns that the metals’ surge signals a “broken system,” echoing pre-crash conditions in 2000, 2007, and 2019. Because nothing says “I’m a prophet” like predicting the end of the world in 2026.

With the gold-to-silver ratio near 56, they argued that institutions are “exiting the casino,” potentially foreshadowing a 2026 collapse. Because apparently, the casino’s closing down, and no one’s invited you.

Lee, however, emphasized that the broader economic backdrop remains strong. Stocks were up 1% in January, historically correlating to 18% annual S&P gains in similar periods since 1950. Because nothing says “strong economy” like a 1% gain in January.

Even as AI and tech valuations may mean-revert, he sees precious metals taking a “breather” as healthy for markets, potentially clearing the way for crypto’s next move. Because nothing says “healthy” like a breather in a market that’s been running on caffeine.

The question now is whether Washington-driven flows will continue to favor metals or if Bitcoin and Ethereum are ready for a rebound. Because nothing says “uncertainty” like asking if the market’s ready for a rebound.

Chart of the Day

The Gold to Bitcoin dominance ratio compares the market cap of both assets. Because nothing says “comparison” like a ratio that’s as confusing as a dating profile.

Byte-Sized Alpha

Crypto Equities Pre-Market Overview

Company Close As of February 2 Pre-Market Overview
Strategy (MSTR) $139.66 $140.80 (+0.82%)
Coinbase (COIN) $187.86 $189.53 (+0.89%)
Galaxy Digital Holdings (GLXY) $26.44 $26.95 (+1.93%)
MARA Holdings (MARA) $9.12 $9.18 (+0.66%)
Riot Platforms (RIOT) $15.32 $15.53 (+1.37%)
Core Scientific (CORZ) $17.87 $18.05 (+1.01%)

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2026-02-03 17:27