At Consensus Hong Kong 2026, Tom Lee described the current crypto market as a "mini winter," advising investors to focus on buying dips rather than timing the perfect bottom. Lee highlighted that volatility in precious metals has impacted risk assets, suggesting gold may have peaked this year. He expressed optimism for Bitcoin and Ethereum to outperform in 2026. Bitcoin has retraced about 50% from its October high, while Ethereum has historically rebounded strongly after similar pullbacks. Lee noted Ethereum might briefly dip below $1,800 to establish a more solid base.