BlockBeats News, December 21st, Sean Farrell, Crypto Strategy Head of Fundstrat, Tom Lee's fund, responded to the statement about "a difference in market views between him and Tom Lee" by saying, "Fundstrat has multiple analysts, each with independent research frameworks and different investment timeframes, aiming to meet the investment goals of different clients. My research is mainly focused on portfolios with a higher allocation to crypto assets and adopts a relatively more aggressive market operating strategy.Tom Lee's research mainly serves large asset management institutions and investors allocating 1%-5% of their assets to BTC and ETH. Such strategies require a high level of discipline and a long-term perspective to capture structural (long-term) trends in order to achieve excess returns over time. My goal is to help clients and subscribers with a higher crypto asset allocation (around 20% and above) to consistently outperform the market through active rebalancing in different market cycles.My cautious view in the first half of the year reflects risk management rather than complete bearishness. The current market pricing is almost perfect, but risks still exist, including government shutdowns, trade volatility, uncertainty in AI capital spending, Fed chairman transitions, as well as high-yield bond spread tightening and low cross-asset volatility. Recent fund flows also show differentiation. Bitcoin is currently in a valuation "no man's land." In the long term, with the participation of major brokerages, ETF demand is expected to improve, but in the near term, it still faces pressures such as original holders selling, miner pressure, possible MSTR exclusion by MSCI, and fund redemptions.My basic judgment: there may be a rebound at the beginning of the year, followed by a further pullback in the first half of the year, providing a more attractive opportunity for year-end positioning. If the judgment is wrong, I am more inclined to wait for confirmation signals. For investors focusing on this outlook, I still expect Bitcoin and Ethereum to challenge new all-time highs before the end of the year, thereby ending the traditional four-year cycle with a shorter and smaller bear market."Earlier reports indicated that in an interview, Tom Lee stated that "Bitcoin may hit a new all-time high by the end of January 2026." On the other hand, Fundstrat analyst Sean Farrell mentioned in a report on the 20th that "Bitcoin may drop to $60,000 to $65,000 and Ethereum to $1,800 to $2,000 in the first half of 2026."