Tom Lee thinks Bitcoin ( CRYPTO: BTC) could hit $250,000 by the end of 2026-and he's not relying on the usual halving playbook to get there. The Fundstrat co-founder argues the traditional four-year cycle is breaking down, replaced by forces that didn't exist in previous runs: ETF-driven demand, institutional accumulation, and a macro environment turning favorable for risk assets. If Lee is right, Bitcoin isn't following the old pattern anymore.