Crypto Daily | ETH Drops Below $2,000; Canary Capital Sees Bitcoin Sliding to $50,000–$60,000 in 2026 Bear Phase Before Fall Rebound

Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

Bitcoin(BTC) Surpasses $67,000 with a Narrowed 0.72% Decrease in 24 Hours

Bitcoin has crossed the $67,000 benchmark and is now trading at $67,036, with a narrowed 0.72% decrease in 24 hours.

Ethereum(ETH) Drops Below $2,000 with a Narrowed 0.44% Decrease in 24 Hours

Ethereum has crossed the $2,000 benchmark and is now trading at $1,968, with a narrowed 0.44% decrease in 24 hours.

Canary Capital Sees Bitcoin Sliding to $50,000–$60,000 in 2026 Bear Phase Before Fall Rebound

2026 will mark the bear leg of Bitcoin’s four-year cycle, with prices potentially falling to the $50,000-$60,000 range this summer before rebounding in the fall, according to Canary Capital.

The prediction comes after Bitcoin peaked at $126,000 in October, according to an interview conducted by CNBC.

Canary Capital pointed to mining company economics as the primary driver behind the cyclical downturn. “Due to the last halving, mining companies had to start selling their Bitcoin to pay for new infrastructure, new software, and, of course, energy prices,” the analyst explained during the interview.

Strategy to Deepen Focus on Digital Credit Product, CEO Says

Strategy, a company that hoards Bitcoin, will issue more perpetual preferred stock to ease the concerns of investors worried about buying its volatile shares, said Chief Executive Officer Phong Le.

“We’ve engineered something to protect investors who want access to digital capital without that volatility,” Le said in an interview with Bloomberg Television.

Preferred shares have so far been a minor part of Strategy’s funding. The company has sold roughly $370 million in common stock and $7 million of perpetual preferreds to finance its last three weekly purchases of Bitcoin. The company holds more than 714,000 Bitcoin worth about $48 billion, but the stock it has sold to fund ongoing purchases of the digital currency has been fluctuating wildly.

Crypto Lender BlockFills Suspends Client Deposits, Withdrawals on Market Conditions

Crypto lender BlockFills on Wednesday said it has temporarily suspended client deposits and withdrawals, given the recent market and financial conditions.

The move comes in the wake of Bitcoin experiencing a period of intense volatility lately. At times, the cryptocurrency traded at levels less than half its October 2025 peak of more than $126K.

Robinhood Remains Bullish on Crypto, but Also Continues Diversifying, CEO Tenev Says

Robinhood is "in the long run very bullish on the crypto industry," CEO Vlad Tenev said in a broadcast interview on Wednesday, the day after the company's Q4 earnings reflected the impact of falling bitcoin prices.

For example, after the company's earnings call on Tuesday evening, Robinhood announced the launch of its public testnet for Robinhood Chain in its bid to accelerate the development of onchain financial services. The current phase allows developers to build and verify apps on the chain. Infrastructure providers, including Alchemy, Allium, Chainlink, and LayerZero, have started integrating with Robinhood Chain, the company said.

ETF Issuers Press Ahead With Crypto Funds Despite Selloff

Even as a brutal selloff hits cryptocurrencies, ETF issuers are pushing ahead with new filings, betting demand will hold up through the downturn.

At least two firms have filed fresh paperwork with US regulators this month. Bitwise Asset Management Inc. in recent days registered plans for a Uniswap-linked fund. ProShares joined the rush on Monday, seeking approval for leveraged Bitcoin and Ether ETFs. Issuer 21Shares has resubmitted paperwork for funds based on Ondo and Sei, suggesting progress as it moves ahead with plans to launch those funds.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Wednesday was $276.30 million. The total net asset value of Bitcoin spot ETFs is $85.76 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.35%.

The Bitcoin spot ETF with the highest net outflow on Feb. 11 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $92.6 million. Followed by iShares Bitcoin Trust, with a net outflow of 73.41 million, according to SoSoValue.

SoSoValue