Inflation Shock Looms Even as Crypto, Energy and Magnificent 7 Eye Record Highs
ZP
Zora Pemberton
crypto IRS ruling · Apr 9, 2026
Source: DojiDoji Data Terminal
Stocks may be poised to reclaim all-time highs even as an unresolved inflation shock threatens broader financial stability, according to Tom Lee, Chairman of Bitmine Immersion Technologies (BMNR). "I think the bottom is in," Lee said in a CNBC interview. "I think stocks are now in the process to go back to their all-time highs."
His outlook hinges on strong momentum in specific asset classes. Cryptocurrency, particularly Ethereum (ETH), has emerged as one of the top-performing assets, underpinning Bitmine’s digital asset treasury (DAT) strategy. Ethereum’s price dipped below $2,200 after a 3.3% drop over 24 hours, yet retail sentiment on Stocktwits remained neutral with high chatter levels.
On the equities side, Lee sees leadership coming from energy stocks, the Magnificent 7, software, and financials. In Thursday’s pre-market, the Energy Select Sector SPDR Fund (XLE) and the Roundhill Magnificent Seven ETF (MAGS) moved higher. Retail sentiment on MAGS stayed bullish with normal chatter, while the iShares Expanded Tech-Software Sector ETF (IGV) edged lower despite sentiment improving to neutral from "extremely bearish" and chatter rising to high levels.
XLE sentiment improved only to bearish from extremely bearish, with chatter at normal levels. BMNR stock traded flat in pre-market, with retail sentiment shifting to neutral from bearish and chatter remaining low.
Still, Lee cautions that inflation pressures are not fully resolved. "There’s still a shock rippling through the economy," he said. "I think there’s an inflation shock still coming." He likened the situation to a wave whose amplitude and timing remain uncertain—factors that could force markets to re-adjust. Recent geopolitical tensions involving the U.S. and Iran have already prompted significant repositioning, with Lee noting that about 70% of the S&P 500 has undergone a rolling bear market. "The summer lull won’t be as deep," he added.
