Grayscale predicts 2026 high; Wall Street Journal cites AI shifts, ETF outflows as challenges
The virtual asset market, led by Bitcoin, has shown signs of recovery since the start of the year. While investor sentiment has revived as year-end risk aversion eased, cautious views still clash with expectations of a rebound in this year’s outlook.
◇ Reclaiming $90,000 in 13 Days…Altcoins Also Rally
According to CoinMarketCap on the 4th, Bitcoin is trading above $91,000 per coin. After maintaining an upward trend since the start of the year, Bitcoin briefly fell below $90,000 due to the aftermath of U.S. airstrikes in Venezuela but quickly recovered. Compared to its year-end price of around $87,000, it has risen over 3% since the new year.
This is the first time Bitcoin has reclaimed the $90,000 mark in about 20 days since December 13 of last year. Earlier, Bitcoin hit an all-time high of $125,000 in October of last year but later plummeted to roughly one-third of its peak as risk-off sentiment spread.
Major altcoins are also showing strength. Ethereum, the second-largest by market cap, rose 5.96% to $3,147 since the start of the year, while Ripple surged over 8% to $2.03, reclaiming the fourth spot in market cap by overtaking Binance Coin.
◇ Risk Asset Preference Recovers on New Year Optimism
Cryptocurrency-related stocks have also rallied since the start of the year. On the 2nd, Coinbase, a virtual asset exchange, closed up 4.59% compared to the previous trading day on the New York Stock Exchange. Bullish, a virtual asset exchange listed in August of last year, rose 3.67%. Circle, a stablecoin leader (+5.26%), and Strategy, a Bitcoin accumulation company (+3.43%), also ended their first trading day of the new year in positive territory.
Experts analyze that investment sentiment is flowing back into virtual assets as the new year begins. CoinDesk, a virtual asset-focused media outlet, stated, “Investors are moving back to risk assets after year-end adjustments,” adding, “Expectations that this year will show different price patterns from last year are being reflected.”
◇ “All-Time High This Year vs. Challenges Persist,” Divergent Forecasts
However, medium- to long-term outlooks remain divided. Grayscale, the world’s largest crypto trust product manager, presented an optimistic forecast in its December report, ‘2026 Digital Asset Outlook,’ citing risks of dollar depreciation, regulatory clarity, and stablecoin expansion. It argued, “Bitcoin is likely to reach a new all-time high in the first half of 2026 due to institutional capital inflows.”
Conversely, The Wall Street Journal pointed out that Bitcoin may face structural challenges in the near term. It highlighted capital shifts toward AI-related stocks and outflows from Bitcoin exchange-traded funds (ETFs) as key variables. Additionally, the analysis noted that Bitcoin mining companies shifting their business models to meet AI computing demand could act as a burden on the virtual asset market.
