
Pi Network News and PI Price Update: May 24
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Bitcoin reached $76,000 as tech stocks hit new records, with optimism fueled by potential easing of the US-Iran conflict. Fundstrat's Tom Lee predicts crypto will lead the next market rally.
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Fundstrat’s chief investment officer, Tom Lee, says the next big move in markets won’t be led by stocks — it’ll be driven by crypto. Speaking Wednesday on CNBC’s “Closing Bell,” Lee argued that Bitcoin and Ether are positioned to lead the next leg of the rally, alongside the Magnificent 7 tech stocks and the broader software sector.
He also said some investors are still sitting on the sidelines, waiting for more clarity on the Middle East conflict before putting money to work — and that their eventual return could push prices higher. His comments came on a day when markets moved decisively. The Nasdaq Composite closed at a new all-time high of 24,016, up 1.60% for the session. The S&P 500 tagged its own record at 7,022, gaining 0.78%. Tech stocks as a group were up more than 2% on the day, according to data from Yahoo Finance.
Even as S&P 500 $SPY reached all-time hit today, investors remain skeptical and sidelined:
– many said long war = long bear – but stocks bottom on bad news not “good”
We expect leaders to be: – crypto $ETH $BTC $BMNR – MAG7/software $MAGS $IGV
Great speaking with…
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) April 15, 2026 Bitcoin kept pace. The world’s largest cryptocurrency briefly hit on Wednesday, up roughly 1.20% over the prior 24 hours. That move was part of a broader run — BTC has climbed nearly 10% over the past two weeks.
As of April 2026, Bitcoin briefly hit $76,000.
Tech stocks have reached new all-time highs, with the Nasdaq Composite closing at 24,016 and the S&P 500 at 7,022.
The market rally is influenced by optimism regarding the potential end of the US-Iran conflict and positive signals from US President Donald Trump.

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Much of Wednesday’s optimism was tied to signals out of Washington. US President Donald Trump said that the US-Iran conflict may be close to ending. “If I pulled up stakes right now, it would take them 20 years to rebuild that country,” Trump said. “We’ll see what happens. I think they want to make a deal very badly.”
Lee, known for his bullish market calls, pushed back against any suggestion that the recent rally has run out of steam. He posted on X that stocks tend to bottom on bad news — not good — making the case that the upward move has further to go. His view is that the market and US economy have held up well despite the ongoing conflict, and that the conditions for continued gains remain in place. Whether crypto leads equities or simply rides alongside them remains to be seen. But on Wednesday, at least, both were pointing in the same direction — up. *Featured image from MetaAI, chart from TradingView*