Tom Lee said Bitcoin could still rise to $150,000, arguing that cryptocurrencies remain widely underowned and that institutions are beginning to enter the market. He said the fourth quarter may be the key test for crypto, with current market gains representing only the first phase. Lee also said that if the Federal Reserve raises rates while long-term yields fall, the effect would amount to monetary easing. He added that crypto stock trading volumes suggest institutional investors are positioning for a large move in the fourth quarter.