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Bernstein reiterated its $150,000 Bitcoin (CRYPTO: BTC) price target for 2026, calling the current downturn the “weakest bear case” in the asset’s history and arguing the 50% crash reflects a confidence crisis rather than structural damage.
The Weakest Bear Case Ever
Bernstein analysts led by Gautam Chhugani said this downturn is unlike previous Bitcoin crashes because nothing actually failed according to the Block.
“Nothing blew up, no skeletons will unravel,” they wrote. “When all stars are aligned, the Bitcoin community manufactures a self-imposed crisis of confidence.”
What makes this different: A pro-Bitcoin U.S. president is in office, Bitcoin ETFs are trading…
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Cango (CANG) said it sold 4,451 Bitcoin over the weekend for net proceeds of about $305 million as the company moves to strengthen its balance sheet and support a shift into artificial intelligence infrastructure.
The Dallas-based Bitcoin miner announced Monday that the transaction was settled directly in Tether’s USDT stablecoin.
The company said the full amount of the proceeds was used to partially repay a Bitcoin-collateralized loan.
Cango said the sale followed a review of market conditions and was approved by its board of directors. The company framed the move as a balance-sheet adjustment aimed at reducing leverage rather than a retreat from its mining…
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Strategy (NASDAQ:MSTR) on Monday announced it had bought 1,142 Bitcoin (CRYPTO: BTC) at $78,815 average price for $90 million between February 2 and February 8.
The Latest Bitcoin Purchase
Strategy’s acquisition was funded by selling 616,715 shares of Class A common stock that generated $89.5 million in net proceeds.
As of February 8, the company held 714,644 BTC with an aggregate purchase cost of $54.35 billion at a $76,056 average cost basis.
Michael Saylor hinted at the purchase in his regular Sunday X post, writing “Orange Dots Matter”.
The buying continues despite a $12.4 billion loss reported in the Q4 earnings.
CEO Phong Le told CNBC that Strategy has “been through Bitcoin…
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Strategy bought another 1,142 bitcoin for about $90 million, extending its long-running accumulation campaign even as the company’s massive treasury remains underwater on paper.
The purchase was disclosed Monday in an 8-K filing with the U.S. Securities and Exchange Commission. Strategy said it acquired the coins between Feb. 2 and Feb. 8 at an average price of $78,815 per bitcoin.
The latest buy lifts Strategy’s total holdings to 714,644 BTC. The stack is valued near $49 billion at current market prices. Strategy has spent roughly $54.4 billion to build the position, including fees and expenses.
The average purchase price across its holdings stands at $76,056 per…
Read more on BitcoinMagazine
Bitcoin (CRYPTO: BTC) has logged its steepest two-week drawdown since June 2022, but Bitwise Chief Investment Officer Matt Hougan says “much of the bad news is already priced in”.
The 6 Crash Factors
Hogan identified six factors driving the crash:
Signs of Exhaustion
On-chain data reveals long-term holders stopped selling aggressively and some are buying.
Open interest on Bitcoin derivatives exchanges fell to 2024 levels. Rate cut expectations are increasing.
Moreover, Sentiment is hovering near historic lows, matching levels that marked crypto bottoms in 2018 and 2022, suggesting the market has already priced in much of the bad news.
Could It Fall Further?
Yes. Previous drawdowns were…
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Bitcoin trades below $69,000, with liquidations at $396.22 million over the past 24 hours.
Bitcoin ETFs saw $371.15 million in net inflows on Friday, while Ethereum ETFs reported $16.8 million in net outflows.
The meme coin sector dropped about 7% in a single day to $32.8 billion, tracking the broader market decline.
Buy Around The Lows
Crypto trader Jelle said Bitcoin’s bounce from its first major area of interest was constructive, but last week’s close below the 2025 low marked a meaningful shift in market structure.
He cautioned against rushing into positions, noting that long-term entries are best built deliberately as markets typically offer extended time near cycle lows.
Benzinga
