Daily Financial Update: Bernstein Confirms $150K Bitcoin Price Target Amid Record-Breaking Bear Case, Strategy Acquires Additional 1,142 BTC, and More Insights
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin Approaches $70K Milestone Amid First Positive Spike in Coinbase Premium in a Month
Bitcoin saw the first brief period of positive Coinbase Premium since mid-January as BTC price action stabilized near $70,000.
BitMine Acquires 40,613 ETH Amid Market Sell-Off as Ether Investment Strategy Encounters Significant Drawdown
Tom Lee–backed BitMine added over 40,000 ETH during last week’s market sell-off, doubling down on its Ether treasury strategy despite multibillion-dollar unrealized losses.
Bernstein Labels Bitcoin Sell-Off as Historic Weakness While Maintaining $150,000 Target for 2026
The research analysts pointed to tight liquidity and macro pressure as drivers of the decline, while noting that spot Bitcoin ETFs have seen relatively modest outflows.
Polymarket Takes Legal Action Against Massachusetts Amid Escalating State-Federal Dispute Over Prediction Markets
Courts across the US are split on whether sports-related prediction contracts qualify as regulated financial products or unlicensed gambling.
Farcaster Founders Dan Romero and Varun Srinivasan Transition to Exciting Role at Stablecoin Startup Tempo
Tempo, incubated by Stripe and Paradigm, has become one of the best-funded new networks targeting stablecoin-based payments.
Jump Trading Takes on Market Maker Role for Polymarket and Kalshi in Exchange for Equity Stake, Reports Bloomberg
Jump Trading is reportedly poised to gain a stake in the two largest prediction markets, Kalshi and Polymarket.
France Detains Six Suspects in Cryptocurrency-Linked Kidnapping of Magistrate
Six people have been detained after a French magistrate and her mother were abducted in a crypto ransom plot, intensifying concerns over a surge in violent “wrench attacks” in France.
Bernstein Affirms Ambitious $150,000 Bitcoin Price Target for 2026 Despite Historical Weak Bear Case
Analysts at Bernstein said the current bitcoin downturn reflects a crisis of confidence rather than structural damage.
TON Pay Set to Transform Telegram into a Seamless Crypto Payment Platform for TON Users
TON Pay’s new SDK lets Telegram Mini Apps accept Toncoin and stablecoins in a single, low-fee checkout flow, seeking to make TON a payments rail for its 1.1 billion monthly
Xinbi's Crypto Guarantee Service Achieves $17.9 Billion in Transactions Following Telegram Ban, According to TRM Labs
TRM Labs says the $17.9 billion figure reflects gross onchain volume, including internal transfers, not confirmed illicit proceeds.
Wallet Associated with Infini Exploiter Reappears to Purchase $13 Million in Ether Dip
The wallet linked to Infini’s $50 million exploit reactivated after months of silence to buy the Ether dip amid a broader market downturn.