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Peter Brandt Believes Further Bitcoin Decline to $49,000 Remain Possible

Sam Wisdom Raphael
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Peter Brandt Believes Further Bitcoin Decline to $49,000 Remain Possible

Market veteran Peter Brandt believes further Bitcoin declines remain possible amid a bear flag formation on the weekly chart.

Bitcoin has remained in a downtrend since its $126,000 peak in October 2025, with the price now hovering around $66,000 after losing 42% during the downtrend and 47% from its all-time high. In 2026 alone, Bitcoin is down 24.22%. 

Amid the downturn, concerns about whether the $60,000 level reached in early February truly marked the cycle bottom. Veteran trader Peter Brandt believes the correction may not be over, with his classical charting patterns suggesting further downside toward $49,000. 

Key Points

  • Bitcoin entered a sustained downtrend after peaking at $126,000 in October 2025, falling to around $66,000.
  • The price dropped from $126,000 to $80,000, rebounded to $97,000, then fell again to $60,000 in February 2026, forming a bearish structure of lower highs and lower lows.
  • Peter Brandt identified a bear flag or rising wedge pattern below the 18-week moving average.
  • Brandt projects a potential decline toward $49,285, arguing that Bitcoin follows traditional charting principles.
  • Other analysts believe the bear market could last six to seven more months, noting Bitcoin has not yet tested multiple key support levels.

Brandt’s Chart Suggests Bitcoin Could Drop to $49,000

Brandt shared his latest analysis in a post on X. He also responded to claims that technical analysis does not work well for Bitcoin, arguing against this idea and explaining that Bitcoin actually follows traditional charting rules quite closely.

He called attention to well-known methods developed by early analysts like Richard Schabacker, Robert Edwards, and John Magee, noting that Bitcoin often respects these patterns even more than other markets.

Holding onto this belief, Brandt argues that Bitcoin’s current pattern is not a finished correction but may be part of an ongoing downtrend. This suggests that the market may need more time and lower prices before it can truly recover.

Bitcoin’s Shift from Bullish to Bearish Trend

Brandt’s chart shows how Bitcoin moved from growth into the ongoing downtrend. In March 2024, Bitcoin climbed to around $69,000 before entering a wide, unstable pattern known as an expanding channel, which lasted until mid-October 2024, when the price dipped to about $62,000. 

Bitcoin 1W Chart Peter Brandt
Bitcoin 1W Chart | Peter Brandt

In November 2024, Bitcoin broke out of that pattern and started an impressive rally, reaching $109,000 in January 2025. After that, the market pulled back to $74,000 in April 2025, then quickly recovered and climbed to $123,000 in July 2025. 

The $123,000 in July 2025 marked a new all-time high at the time, but Bitcoin corrected slightly after that and moved sideways above $115,000 for a while before making one last push to $126,000 in October 2025, which marked the cycle’s peak.

From there, the trend changed. Bitcoin dropped to $80,000 in November 2025, rose again to a lower high of $97,000 in January 2026, and then fell sharply to $60,000 in early February 2026. Since then, the price has been moving in a rising wedge or bear flag, a pattern that often leads to further declines. 

Bitcoin now trades near $66,530, while the 18-week MA around $80,351 acts as resistance. The ADX reading of 32.37 shows that the trend is strong, and the Average True Range of 8,876 points to high volatility. Brandt’s chart suggests a further drop to $49,000 may be possible, going against the idea that Bitcoin has reached a bottom.

Other Analysts Point to More Downside Risks

Other analysts have also raised concerns about calling a bottom too early. Specifically, market analyst Crypto Bullet argued that $60,000 is unlikely to be the final low. He believes the bear market could last another six to seven months. 

Bitcoin 1W Chart Crypto Bullet
Bitcoin 1W Chart | Crypto Bullet

He also pointed out that Bitcoin has not yet tested the realized price at $54,000, which is a level it usually drops below during bear cycles, and the 200W MA at $59,280. In addition, he noted that Bitcoin is still trading $24,000 above the CVDD level of $47,374, and. 

Dan, a verified CryptoQuant analyst, shared a similar opinion. He said it is still too early to say that $60,000 was the lowest point, explaining that the usual signals seen at major bottoms have not yet appeared.

Bitcoin, Ethereum Lead as Crypto Liquidations Hit $258M in 4 Hours

Lele Jima
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0
Bitcoin, Ethereum Lead as Crypto Liquidations Hit $258M in 4 Hours

A sharp market downturn triggered a wave of forced liquidations, wiping out over $250 million in leveraged positions within just four hours, led by Bitcoin. 

Leveraged traders took a significant hit today as the market entered another rapid deleveraging phase. In total, $258 million in positions were liquidated within the four-hour window, with long positions accounting for the majority of the losses as prices pulled back. 

Key Points 

  • More than $250 million in leveraged positions were liquidated within four hours, led primarily by Bitcoin and Ethereum.
  • Total liquidations climbed to $450 million over 24 hours, with long positions accounting for $402 million and shorts for $48 million.
  • The liquidation began after Bitcoin fell below $67,000 and Ethereum dropped under $2,000.
  • Despite the pullback, Bitcoin continues to outperform traditional assets such as gold and oil. 

Bitcoin and Ethereum Lead Liquidations 

Notably, Bitcoin alone accounted for $118 million, representing 45.73% of total liquidations. Meanwhile, Ethereum followed with $73.49 million, and Solana recorded approximately $18.41 million. Other altcoins, including XRP and Chainlink, made up the remaining share. 

Image

Moreover, liquidations climbed to $450 million in 24 hours, according to CoinGlass data. Long positions dominated the wipeout at $402 million, while short positions accounted for roughly $48 million. Once again, Bitcoin and Ethereum led the trend, with $183 million and $125 million in liquidations, respectively. 

BTC and ETH Drop to Two-Week Low 

This cascade followed an abrupt market downturn on Friday. Bitcoin fell below $67,000 for the first time since March 9 and currently trades at $66,257, down 4.58% over 24 hours. 

Similarly, Ethereum dropped below $2,000, marking its first break under that level since March 11. It now trades at $1,981, down 4.23%.

Analysts linked the sell-off to rising geopolitical tensions in the Middle East, particularly uncertainty surrounding a ceasefire signalled by Donald Trump. As a result, risk assets, including cryptocurrencies, have faced increased pressure. 

Bitcoin Outperforms Traditional Assets Since War 

Despite the recent downturn, data from CryptoQuant shows that Bitcoin continues to outperform traditional assets during the conflict period. 

Since February 28, Bitcoin has gained 12%, while the S&P 500 has declined 4% and gold has fallen 16%. This incredible performance highlights Bitcoin’s relative strength amid macro uncertainty. On the other hand, oil has spiked 9% since the war began in the Middle East. 

Bitcoin has consistently outperformed traditional hedges

Ripple CEO on the Future of Crypto: “People Underestimate What Happens in 10 Years”

Sam Wisdom Raphael
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0
Ripple CEO on the Future of Crypto: “People Underestimate What Happens in 10 Years”

The Ripple CEO, Brad Garlinghouse, recently suggested that people tend to underestimate what can happen in 10 years.

Garlinghouse said this while speaking at the latest FII PRIORITY summit in Miami. Specifically, when asked about how the crypto industry would look in five years, the Ripple CEO argued that people often overestimate what happens in five years, while underestimating what happens in ten years.

Key Points

  • During a panel discussion at the FII PRIORITY summit in Miami, industry leaders shared their expectations for the crypto industry in five years.
  • Zach Witkoff highlighted views from Stanley Druckenmiller and Larry Fink that payments could move entirely to stablecoins by 2030 and tokenization could engulf every global asset.
  • Brad Garlinghouse said people overestimate change in five years but underestimate the scale of transformation over ten years.
  • Garlinghouse also confirmed that Ripple’s large involvement in the payment sector motivated the firm to develop its own stablecoin.

Predictions Around Stablecoin Use Case

Notably, the panel hosted by New York Post’s Lydia Moynihan at the FII PRIORITY summit in Miami featured comments from Brad Garlinghouse, alongside Maja Vujinovic from FG Nexus, and Zach Witkoff of World Liberty Financial. 

As the session came to a close, Moynihan asked each speaker to share their expectations for the next five years in crypto. She first turned to Witkoff, asking how the industry might look different within that time. 

In response, he called attention to comments from well-known financial figures such as Stanley Druckenmiller and Larry Fink. Witkoff explained that Druckenmiller believes all payments could move to stablecoins by 2030. 

He also mentioned that Fink expects all assets to eventually become tokenized, bringing them to the blockchain ecosystem. Witkoff agreed with both ideas and added that these changes simply improve how the current system works rather than replace it entirely.

Meanwhile, in his response, Garlinghouse said people often overestimate what happens within five years, but fail to see the scale of what can happen over ten years. He agreed that stablecoins are already gaining ground, noting that their use in payments is growing quickly and will continue to do so.

Why Ripple Launched RLUSD Stablecoin

Earlier in the discussion, Moynihan asked Garlinghouse about Ripple’s move into stablecoins. She noted that the company launched RLUSD about 13 months ago, after focusing for years on XRP, and asked what led to the decision.

Garlinghouse revealed that the shift actually began around two years ago. At that time, Ripple was responsible for about 20% of all USDC being minted. 

He said the company’s main business has always been cross-border payments and revealed that Ripple has processed more than $100 billion in payment flows. Due to this level of involvement, the company saw value in managing stablecoin issuance itself.

He also called attention to events involving USD Coin, which briefly lost its dollar peg after the collapse of Silicon Valley Bank. During that period, Circle stepped in to support the peg. However, Garlinghouse noted that confidence remained shaky because Circle did not have a strong balance sheet at the time. 

In comparison, he said Ripple holds between $60 billion and $70 billion in crypto assets, along with about $4 billion in US dollars, which puts it in a strong position to offer a stablecoin designed for institutions and built around compliance.

Competition and the Future of Stablecoin Markets

Speaking on the stablecoin market, Garlinghouse said he expects more competition in the short term, with more players entering the space. He compared today’s crypto industry to the late 1990s, when many businesses described themselves as internet companies. Over time, that label faded as the internet became part of everyday life.

He believes the same will happen with crypto. Instead of focusing on the technology itself, companies will focus on solving real problems like payments and custody. According to him, calling something a “crypto company” can slow adoption because people care more about solutions than the tools behind them.

Looking ahead, Garlinghouse said that in five to ten years, people may not even use the term crypto in the same way. He also confirmed that major banks are already considering whether to launch their own stablecoins. However, he warned that having too many stablecoins could lead to fragmentation.

Shiba Inu Flashes Potential Breakout as Network Strength Challenges Months of Losses

Abdulkarim Abdulwahab
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0
Shiba Inu Flashes Potential Breakout as Network Strength Challenges Months of Losses

Shiba Inu is showing early signs of recovery after months of consistent declines, with improving network activity and renewed investor interest.

While price action remains volatile, underlying metrics suggest the meme coin could be preparing to close March on a stronger footing.

Key Points

  • Shiba Inu shows signs of recovery after months of losses, fueled by growing network activity and investor interest.
  • March rallies offset weakness, suggesting SHIB could end its seven-month losing streak near $0.000005767.
  • Holder growth and 78% long-term positions signal rising investor confidence and reduced exchange supply.
  • Technicals and whale accumulation hint at bullish momentum, with potential targets up to $0.00000864.

Shiba Inu Seven Months of Losses Near a Turning Point

Since August 2025, Shiba Inu has endured a prolonged stretch of monthly losses, marking one of its longest downturns since its emergence in 2021. The asset recorded consecutive declines through February 2026, with particularly steep drops in October (15.2%), November (16.2%), and December (17.6%).

However, March is showing signs of breaking that trend. Despite recent pullbacks, Shiba Inu has managed to post modest gains overall this month. The token is up roughly 0.34% compared to the start of the month, even though it is currently trading around $0.000005767 and down on a daily basis.

This suggests that intermittent price rallies throughout the month have been strong enough to offset periods of weakness. This positions SHIB to potentially snap its seven-month losing streak.

Shiba Inu Monthly Return Chart | CryptoRank
Shiba Inu Monthly Return Chart | CryptoRank

Holder Growth and Supply Trends Point to Long-Term Confidence

Another notable development supporting Shiba Inu’s outlook is a steady expansion in user base. The total number of holders has climbed past 1.55 million, with thousands of new wallets being added monthly.

At the same time, a large portion of holders, around 78%, have maintained their positions for over a year, highlighting strong long-term conviction.

Exchange balances are also declining, suggesting that investors are increasingly moving tokens into private wallets rather than keeping them readily available for sale.

Together, these trends point to a shift away from short-term speculation toward longer-term holding behavior.

Bullish Signals Emerge on Technical Charts

From a technical perspective, Shiba Inu is beginning to show signs of strength. A developing bullish divergence between price action and the relative strength index (RSI) suggests that selling pressure may be weakening.

The token has also held above key support zone at $0.0000050, with recent rebounds indicating buyer interest at lower levels.

Analysts note that maintaining this support could pave the way for a move toward $0.00000725. Meanwhile, a more extended rally could target the 200-day moving average near $0.00000864.

Whale Accumulation Adds to Optimism

Investor sentiment is further supported by renewed whale activity. A large Ethereum holder recently accumulated over 120 billion SHIB tokens across multiple transactions. Market watchers often interpret such accumulation patterns as strategic positioning ahead of potential price movements.

While Shiba Inu continues to trade in a fragile range, the combination of rising burn activity, growing holder base, declining exchange reserves, and bullish technical signals paints a more constructive picture.

If current trends persist, SHIB could not only maintain its positive monthly performance but also mark the end of its extended losing streak, setting the stage for a recovery in the months ahead.

XRP News: Ripple CEO Says Biggest Banks Are Considering Launching Stablecoins

Abdulkarim Abdulwahab
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0
XRP News: Ripple CEO Says Biggest Banks Are Considering Launching Stablecoins

Ripple CEO Brad Garlinghouse has revealed that some of the world’s largest banks are actively exploring launching their own stablecoins.

This revelation came during a panel session at FII Priority Miami 2026. Garlinghouse confirmed that traditional financial giants are not sitting on the sidelines.

He noted that while the stablecoin sector is already dominated by a few major players, the near-term outlook points to increasing fragmentation as more institutions enter the market.

Key Points

  • Big banks are exploring launching their own stablecoins, signaling rising institutional adoption of digital assets.
  • Brad Garlinghouse says the market may fragment short term, but expects long-term consolidation into key players.
  • Ripple is pushing a compliance-first strategy, emphasizing transparency, audits, and regulatory alignment.
  • Garlinghouse sees crypto becoming invisible infrastructure, with XRP and RLUSD powering global finance behind the scenes.

Big Banks Eye Stablecoin Launches

According to Garlinghouse, internal conversations are already happening at the highest levels across global banking institutions about issuing proprietary stablecoins. This suggests that stablecoins are no longer just a crypto-native experiment. Instead, they are becoming a strategic priority for mainstream finance.

However, the Ripple CEO questioned whether such expansion is ultimately necessary. “”The question is: does it make sense to have a proliferation of stablecoins?” Garlinghouse asked. Specifically, he pointed out that a flood of similar dollar-backed tokens could create unnecessary complexity across the financial system.

Short-Term Growth, Long-Term Consolidation

Garlinghouse expects the stablecoin market to become more crowded in the short term due to experimentation and institutional interest. But over time, he believes consolidation is inevitable.

Rather than dozens of competing stablecoins, the market may evolve toward a smaller number of specialized players focused on distinct use cases such as payments, custody, or cross-border settlement.

He compared the current phase to early banking systems, where multiple bank-issued notes created fragmentation before standardization took hold.

Ripple Pushes Compliance-First Approach

Amid this evolving landscape, Ripple is positioning itself as a compliance-focused player.

Garlinghouse stressed the importance of transparency, audits, and regulatory alignment, noting that the industry is gradually moving in that direction. He pointed to efforts by major stablecoin issuers to improve verification and oversight as a positive sign for long-term adoption.

Ripple’s own stablecoin, RLUSD, continues to gain traction as part of its push into institutional finance. It complements the role of XRP in liquidity and settlement.

Crypto Becoming Invisible Infrastructure

Beyond stablecoins, Garlinghouse highlighted a shift in how the industry is perceived.

He argued that the term “crypto company” may eventually fade, much like “internet company” did decades ago. He expects blockchain technology to become a foundational layer within everyday financial systems.

In this scenario, assets like XRP and stablecoins such as RLUSD could operate behind the scenes, powering global payments without users needing to think about the underlying technology.

Growing Momentum for RLUSD and XRP

This outlook aligns with Ripple’s recent expansion efforts, including its involvement in cross-border settlement initiatives and partnerships to integrate stablecoins into real-world financial workflows.

As institutional interest builds and regulatory clarity improves, Ripple is positioning XRP and RLUSD at the center of what could become a more unified and mainstream digital financial ecosystem.

Cardano May Be Closer to $2 Than You Expect: Expert

Lele Jima
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0
Cardano May Be Closer to $2 Than You Expect: Expert

A notable crypto trader has argued that Cardano (ADA) may be closer to the $2 milestone than many realize.

Over the past few months, persistent bearish pressure has weighed on Cardano’s price, pushing it down to 12th place in the global crypto rankings. As a result, investor sentiment has weakened, with many skeptical of a major rebound.

However, Yesreel, a trader with six years of experience, has countered the pessimism by emphasizing ADA’s potential for rapid recovery. He argues that a short burst of strong daily gains could quickly drive ADA toward $2, citing its history of sharp rallies.

Key Points

  • A veteran crypto trader says ADA could surge to $2 faster than many expect.
  • He believes the feat can be achieved within days if ADA posts consecutive 40-50% upsurge.
  • The outlook is rooted in past market cycles in which ADA posted remarkable gains.
  • Currently trading at $0.2516, ADA would need an approximate 695% increase to hit $2.

ADA Can Hit $2 Faster Than Anticipated

According to Yesreel, ADA could reach the $2 level faster than many anticipate. Specifically, he notes that the asset would only need to achieve consecutive daily gains of 40% to 50% to reach this target.

This projection draws on past market cycles, during which ADA recorded rapid price increases amid rising demand and bullish sentiment. In such conditions, compounding gains can accelerate price growth significantly.

Currently, ADA trades around $0.2516, meaning the token would need to rise roughly 695% to hit $2. If ADA were to increase by 40% daily, it could reach that level in about 6 days. Alternatively, a 50% daily increase could shorten the timeline to five days.

Previous Remarkable Rallies

Notably, Cardano has demonstrated this explosive potential before. In 2021, ADA surged to an all-time high of $3.10. Between August 2 and September 2, 2021, the token climbed 134%, rising from $1.32 to $3.10.

Similarly, during the post-election rally of 2024/2025, ADA gained over 100% in just two weeks. During that period, its price jumped from approximately $0.32 on November 5, 2024, to $0.84 by November 20, 2024, marking a 162% increase in 15 days.

Caution Remains Imperative

Although historical trends indicate that such surges are possible, they typically occur under favorable conditions, such as strong market-wide sentiment and increased capital inflows.

Meanwhile, current macroeconomic headwinds, particularly escalating geopolitical tensions in the Middle East, continue to weigh on the crypto market. As a result, ADA and other crypto assets have struggled to regain strength, trading below $0.30 for weeks and slipping further to 12th place in global crypto rankings.

Essentially, while a move toward $2 may be achievable under the right conditions, it ultimately depends on sustained momentum and a more supportive market environment.

XRP Ledger Next-Level Security Push Aims to Power XRP’s Next Phase of Adoption

Abdulkarim Abdulwahab
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0
XRP Ledger Next-Level Security Push Aims to Power XRP’s Next Phase of Adoption

The XRP Ledger is entering a new phase of security hardening as developers roll out an AI strategy to support the network’s next wave of global adoption.

XRPL validator Vet highlighted the shift on X, describing it as “next level security for XRP for the next level of adoption.”

Notably, Vet’s comment points to a framework that goes beyond traditional methods like bug bounties, code scans, and attackathons. At the center of this evolution is a newly introduced AI-assisted red team to proactively identify vulnerabilities before they reach production.

Key Points

  • XRP Ledger rolls out AI-driven security to boost adoption and protect against future threats.
  • AI-assisted red team proactively finds bugs before deployment, enhancing XRPL resilience.
  • New approach simulates attacks and stress-tests the system to catch edge-case vulnerabilities.
  • XRPL raises upgrade standards with audits, testing, and community involvement for safety.

AI Takes Center Stage in XRP Ledger Security

According to Ayo Akinyele, Head of Engineering at RippleX, the XRP Ledger is moving toward a more proactive and AI-driven security model. This includes integrating AI tools across the entire development lifecycle, from code reviews to threat modeling and adversarial testing.

Rather than reacting to bugs after deployment, the new approach focuses on continuously simulating attack scenarios. It uncovers edge cases and stress tests the system at scale. This move seeks to identify weaknesses earlier, reducing the risk of critical failures in a live environment.

Dedicated Red Team Already Finding Bugs

A key pillar of the strategy is a dedicated AI-assisted red team that continuously probes the XRPL codebase. This team simulates real-world attack vectors and analyzes how new and legacy features interact.

Early results show the initiative is already gaining traction, with more than 10 bugs identified so far. However, only low-severity issues have been publicly disclosed. Despite this, Akinyele stressed that the team is prioritizing all findings and addressing them as part of ongoing improvements.

Strengthening a Decade-Old Financial System

Since launching in 2012, the XRP Ledger has processed over 3 billion transactions and more than 100 million ledgers, securing billions in value. However, its longevity also means parts of the codebase reflect older design assumptions.

The new initiative aims to improve the system by making the code safer, clearer, and more consistent. This move aims to help the network run more reliably and handle growth more effectively.

Higher Standards for XRPL Upgrades

The team is also raising security standards for new XRPL amendments. Future upgrades will require multiple independent audits, stricter testing criteria, and more community involvement through bug bounties and hacking events.

Meanwhile, collaboration is another major focus. Specifically, developers are also working more closely with groups like the XRPL Foundation, XRPL Commons, and independent experts.

As XRPL grows into global payments and large financial systems, security remains a constant priority, not a one-time task. The goal is to make XRPL a reliable system for big institutions while keeping transactions fast and cheap.

With updates that focus more on fixing issues and improving stability, XRPL seeks to remain trustworthy over the long term.

Bitcoin Miners Reallocate Capital Toward AI and Data Infrastructure as Margins Compress: CoinShares

Zabi
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0
Bitcoin Miners Reallocate Capital Toward AI and Data Infrastructure as Margins Compress: CoinShares

Bitcoin mining companies are entering a more challenging phase as rising production costs, declining revenues, and weaker BTC prices compress margins.

A recent report from CoinShares outlines how these pressures are reshaping the industry and accelerating a shift toward AI and data center businesses.

Key Points

  • Mining profitability has deteriorated sharply, with average cash costs reaching ~$80,000 per BTC in Q4 2025.
  • Miner income has declined materially as the hash price fell from ~$36–$38 to ~$28–$30 per PH/s/day, reflecting weaker revenue per unit of computing power.
  • Bitcoin’s price drop from ~$125,000 in Oct 2025 to ~$86,000 in Dec 2025 was a primary driver of revenue compression.
  • Financial stress has forced miners to liquidate reserves, with public miners selling over 15,000 BTC, and multiple difficulty reductions indicating shutdowns.
  • The industry faces rising debt levels and increasing investment in AI and high-performance computing infrastructure as an alternative revenue stream.

Mining Economics Deteriorate

Profitability in Bitcoin mining has come under sustained pressure. According to CoinShares, the average cash cost to mine one Bitcoin surged to nearly $80,000 in Q4 2025. At the same time, revenues moved in the opposite direction, widening the gap between costs and earnings.

Cost to Mine One Bitcoin, Excluding Depreciation and Stock Based Compensation
Cost to Mine One Bitcoin, Excluding Depreciation and Stock-Based Compensation

This imbalance is reflected in “hashprice,” a key metric for miner income. It declined from roughly $36–$38 per PH/s/day in late 2025 to around $28–$30 by early 2026, signaling a steady erosion in returns.

Compounding the issue, Bitcoin itself experienced a sharp correction, falling from about $125,000 in October 2025 to $86,000 by December. CoinShares attributes the sector’s strain to this combination of falling prices and intensifying competition.

Operational Stress Forces Asset Sales and Shutdowns

As margins tightened, miners began taking defensive measures to preserve liquidity. One of the clearest signals has been the large-scale reduction of Bitcoin reserves.

CoinShares reports that publicly listed miners sold more than 15,000 BTC from their peak holdings. Companies such as Core Scientific, Riot Platforms, and Bitdeer were among those taking this step. Meanwhile, MARA disclosed a separate sale of 15,133 BTC.

Alongside these sales, operational cutbacks have also emerged. The network recorded three consecutive downward difficulty adjustments in late 2025, the first such sequence since mid-2022, indicating that less efficient miners were shutting down.

Even so, overall network resilience remains evident. Hashrate fell from a peak near 1,160 EH/s in October 2025 to about 850 EH/s by February 2026, before rebounding to roughly 1,020 EH/s. This suggests weaker players exited, but broader capacity held firm.

Future Outlook Hinges on Bitcoin Price Recovery

With current conditions, the sector’s near-term outlook largely depends on Bitcoin’s price direction. CoinShares outlines several possible scenarios that could shape mining profitability.

The firm notes that a recovery to $100,000 is a realistic possibility. Such a move could lift the hash price to around $37 per PH/s/day, easing some of the current pressure.

If Bitcoin climbs back toward its previous highs near $126,000, returns could improve significantly, potentially reaching about $59 per PH/s/day. However, the downside risk remains important to consider.

Should Bitcoin remain below $80,000 for an extended period, profitability may continue to decline. In that scenario, further miner shutdowns could occur, although these exits might eventually help stabilize the market by reducing excess capacity.

AI Expansion Emerges as Strategic Pivot

Amid these challenges, a structural shift is underway. Many mining companies are diversifying into artificial intelligence and high-performance computing to secure more stable revenue streams.

CoinShares estimates that about 30% of listed miners’ revenue already comes from these activities, a figure that could rise to 70% by the end of 2026.

The scale of this transition is already visible. More than $70 billion in AI and computing-related contracts have been announced, prompting firms such as TeraWulf, IREN, Cipher Mining, Core Scientific, and Hut 8 to reposition themselves as broader data infrastructure providers.

In contrast, MARA continues to prioritize Bitcoin mining, often leveraging flexible, lower-cost energy strategies.

Rising Debt and Global Shifts Reshape the Industry

This strategic pivot toward AI is also reshaping the industry’s financial structures. To fund expansion, several firms have taken on substantial debt.

For instance, IREN raised $3.7 billion through convertible notes. TeraWulf now carries a total debt of $5.7 billion, while Cipher secured $1.7 billion in financing. These developments point to a changing risk profile for the sector.

At the same time, the global distribution of mining power is evolving. The United States, Russia, and China collectively account for about 68% of total hashrate, with the U.S. slightly increasing its share in recent months.

Meanwhile, emerging regions such as Paraguay, Oman, and Ethiopia are gaining traction due to access to low-cost energy, gradually reshaping where mining activity takes place.

An Industry in Transition

Taken together, these trends point to an industry undergoing significant transformation. While Bitcoin mining remains under pressure from rising costs and declining revenue, companies are actively adapting by cutting costs, selling assets, and diversifying.

According to CoinShares, the accelerating shift toward AI and computing infrastructure could ultimately define the next phase of the sector’s evolution.

FluidTokens Executes First Bitcoin–Cardano Atomic Swap on Mainnet

Lele Jima
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0
FluidTokens Executes First Bitcoin–Cardano Atomic Swap on Mainnet

Cardano-based UTXO platform FluidTokens completed the first atomic swap between Bitcoin and Cardano on the mainnet. 

The transaction, which exchanged a small amount of BTC for ADA, demonstrates that assets on both networks can now be traded directly without wrapping, bridging, or relying on centralized platforms.

Key Points

  • FluidTokens has executed the first atomic swap between Bitcoin and Cardano on mainnet, exchanging 0.0001 BTC for 50 ADA.
  • The transaction used a structured process enabling participants to fund and complete swaps seamlessly with both BTC and ADA.
  • This breakthrough builds on earlier Cardano ecosystem efforts to integrate Bitcoin, including a demo swap involving native BTC and the Minswap token.
  • Expanding Bitcoin DeFi capabilities remains a key strategic focus for Cardano throughout the year.

First Bitcoin–Cardano Atomic Swap Executed

FluidTokens confirmed that it executed the swap directly on mainnet, exchanging native BTC for native ADA without relying on wrapped assets, bridges, or centralized intermediaries.

The transaction involved a test trade of 0.0001 BTC for 50 ADA, demonstrating that assets on both networks can now move trustlessly between participants. Blockchain data shows the swap occurred on March 25 with a fee of 2,000 sats, approximately $1.43.

The team leveraged atomic swap technology to complete the transaction. For context, atomic swaps enable transactions across different blockchains without intermediaries, using cryptographic guarantees to ensure fairness between participants.

As a result, either both parties successfully receive their assets or the transaction fails. In this case, the process enabled a fully decentralized exchange of native Bitcoin for native ADA.

The swap followed a structured sequence. First, the owner funded the Cardano side of the transaction, while the buyer deposited Bitcoin. The system then allowed the owner to claim the BTC, while the buyer claimed the ADA, effectively completing the trade without intermediaries.

Image

Notable Milestone for Cardano

This development significantly advances Cardano’s decentralized finance ambitions, particularly its goal of integrating Bitcoin liquidity into its ecosystem. The network has consistently signaled plans to bridge Bitcoin to Cardano, aiming to unlock new DeFi opportunities for BTC holders.

Notably, Cardano co-founder Charles Hoskinson has emphasized that enabling Bitcoin DeFi could drive billions of dollars from the Bitcoin ecosystem into Cardano.

Supporting this vision, key ecosystem entities such as Input Output Global, Cardano Foundation, and Intersect have identified Bitcoin DeFi as a core focus area for 2026.

Progress has been made toward Cardano’s Bitcoin DeFi ambitions. During a previous Bitcoin conference, a live demo showcased a BTC-to-Miniswap (MIN) swap via the Lace Wallet.

At the time, the transaction used FluidTokens’ Babel fees system, allowing users to pay fees in Bitcoin. The demonstration prompted Hoskinson to highlight the emergence of Bitcoin DeFi powered by Cardano.

Beyond swaps, Input Output Global has introduced the Cardinal Protocol, which enables Bitcoin holders to access Cardano DeFi while retaining custody of their assets. In parallel, collaborations between EMURGO and BitcoinOS aim to bring smart contract capabilities to Bitcoin developers, further strengthening interoperability efforts.

With this latest milestone, FluidTokens has demonstrated that direct Bitcoin–Cardano swaps are now possible on mainnet. As a result, the project confidently declares that Bitcoin is now effectively on Cardano, signaling a new phase in cross-chain DeFi innovation.

Goldman Sachs Calls $70K Bitcoin Bottom After 45% Bloodbath

Zabi
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Goldman Sachs Calls $70K Bitcoin Bottom After 45% Bloodbath

Bitcoin may be nearing its bottome after a prolonged decline, according to a recent research note from Goldman Sachs.

Early signs of stabilization are emerging across the crypto market. The bank points to easing selling pressure and improving market balance as key indicators that the worst of the downturn could be passing.

Supporting this view, analyst James Yaro suggests Bitcoin likely established support near $70,000 following a sharp correction. After climbing to approximately $126,000, the asset fell roughly 45% and was trading around $68,562 at the time of the report, slightly below the projected stabilization range.

Key Points

  • Goldman Sachs signals that Bitcoin may have found a support level near $70,000 after a steep 45% correction.
  • Forced selling is declining, easing pressure and helping the crypto market rebalance.
  • Institutional investors are showing early signs of renewed participation, indicating cautious confidence.
  • The bank is shifting its strategy toward utility-focused assets such as XRP, reflecting long-term growth potential.
  • Crypto-related stocks, including Coinbase and Figure Technologies, are gaining favor amid market stabilization.
  • Market recovery is expected to be gradual through 2026, driven by institutional inflows and a more resilient structure.

Decline in Forced Selling Supports Bitcoin Market Balance

A major driver behind the emerging stability is the decline in forced selling. Goldman Sachs highlights reduced outflows from exchange-traded funds and large institutional holders as a critical shift. Consequently, with less urgent liquidation, the market has begun to rebalance.

At the same time, the excess optimism that characterized the post-2025 rally has largely dissipated. This cooling of sentiment suggests Bitcoin is transitioning into a consolidation phase rather than continuing its downward trajectory.

Although macroeconomic headwinds, such as tight monetary policy and geopolitical risks, remain in place, their influence now appears more contained.

In parallel, liquidity conditions are gradually improving. However, Goldman notes that this recovery remains uneven across different trading venues.

Institutional Investors Show Early Signs of Return

As market conditions stabilize, institutional investors are beginning to re-engage. Goldman Sachs observes early signs of renewed participation, although positioning remains cautious.

Importantly, the bank stops short of calling a full recovery. Instead, it highlights that trading behavior has become more consistent, suggesting a healthier and more stable market environment. 

This shift is further supported by the firm’s own disclosures, which show approximately $2.36 billion in exposure to Bitcoin and Ethereum ETFs as of late 2025. Such figures indicate that institutional interest has not disappeared, even during the downturn.

Crypto Stocks Gain Favor Amid Market Reset

Beyond digital assets, Goldman Sachs sees growing opportunities in crypto-related equities as the market resets.

For instance, the bank has maintained a positive outlook on Coinbase Global, assigning a price target of $235 despite a recent earnings miss. This confidence reflects strong retail engagement and continued expansion into institutional products, including developments within Coinbase’s “Base” ecosystem.

Similarly, Goldman has raised its price target for Figure Technologies to $42, citing rapid growth in its blockchain-based lending platform. This underscores a trend toward real-world applications driving value in the sector.

Strategic Shift Toward Utility-Focused Assets

In addition to its market outlook, Goldman Sachs has made notable adjustments within its own portfolio. Recent regulatory filings reveal a significant increase in exposure to XRP-focused ETFs.

Specifically, the bank now holds approximately $152 million across four funds, making it the largest institutional investor in this category. At the same time, it has reduced its spot Bitcoin ETF holdings by about 40%.

While this repositioning has not yet translated into a significant price surge for XRP, it reflects growing confidence in its long-term potential.

Outlook Points to Gradual Recovery in 2026

Looking forward, Goldman Sachs believes the current market structure is more resilient than in previous cycles. However, trading volumes remain below 2025 highs, indicating that a full recovery is still unfolding.

In the near term, the bank anticipates a modest slowdown in revenues, with a typical trough period lasting around three months. Beyond that, a recovery could take shape in the second half of 2026.

This rebound is likely to be driven by renewed institutional inflows into regulated market participants, particularly in the evolving post-GENIUS Act environment. Taken together, these trends suggest that while the market may have moved past its most severe phase, the path to full recovery will be gradual rather than immediate.

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