Tom Lee and iTrustCapital CEO Say the Worst Is Over: Can Bitcoin Hold $86,000?

Bitcoin (BTC) traded at $86,423 on Tuesday, up from below $76,000 a week ago. Tom Lee and iTrustCapital’s CEO, Kevin Maloney, say the worst is now behind investors. Both men made their case after a US interest rate hike and a failed crypto bill, the CLARITY Act.

Neither event stopped the pioneer crypto’s rebound. Bitcoin Price Performance. Source: BeInCrypto iTrustCapital CEO Says the Crypto Winter Is Over Maloney runs iTrustCapital, a platform for crypto and stock investing in retirement accounts.

In an interview with Paul Barron, he said the long crypto slump, often called the “crypto winter,” had ended. His firm was holding about $350 million in idle client cash, Maloney said. He added that “significant portions” were now being invested again.

“Bitcoin doesn’t need Clarity Act,” Maloney said in the interview. Maloney also named a level to watch. A weekly close above $85,000, he said, would leave Bitcoin in a good position.