Home Blog Page 1022

Jefferies sees few signs of a BTC bottom yet flags upside for tokens with fundamentals

0

Jefferies says the latest crypto selloff shows few signs of an imminent bottom, even as bitcoin and ether hover near levels that have historically drawn dip buyers.

In a research note this week, the bank described the downturn as a liquidity-driven correction rather than a collapse in blockchain activity, pointing instead to continued network usage and selective corporate bitcoin accumulation as evidence that the sector’s underlying infrastructure remains intact.

This comes as bitcoin trades near $64,800, roughly 47% below its October 2025 peak of about $123,500, while ether trades around $1,900, down nearly 60% from its prior cycle highs.

Jefferies wrote that sharp price declines have revived familiar “crypto winter” narratives, but argued that current weakness is more closely tied to broader risk-off sentiment in global markets and a rotation away from growth assets than to any deterioration in blockchain fundamentals. More than $2 billion in recent long liquidations has further amplified day-to-day volatility across major tokens.

The bank highlighted selling from large bitcoin holders and persistent spot ETF net outflows as key near-term headwinds, suggesting institutional portfolio rebalancing is exerting greater pressure on prices than retail behavior.

At the same time, Jefferies noted that smaller and mid-sized holders appear to be holding existing positions rather than aggressively exiting, while centralized exchange trading volumes and decentralized lending activity have begun to stabilize after recent spikes.

Despite its cautious tone, the report stops short of a fully bearish outlook. Jefferies said longer-term catalysts such as regulatory progress, infrastructure maturity, and greater participation by traditional finance could eventually drive renewed interest in tokens tied to revenue-generating blockchains, leading to wider performance divergence rather than a uniform rebound.

Robotaxi Leader Waymo Confirms $16B Funding Round

0

Self-driving tech company Waymo unveiled a new funding round of $16 billion that sees the firm valued at $126 billion.

The robotaxi pioneer, which is owned by Google parent Alphabet, has expanded dramatically in the past couple of years and now offers driverless cabs in locations across the U.S., including the San Francisco Bay Area, the Phoenix metropolitan area, Los Angeles and Miami. Autonomous Waymo cabs are also offered via Uber in Austin and Atlanta.

Waymo’s previous funding round was a Series C in October 2024, which raised $5.6 billion at a $45 billion valuation.

Alongside chief investor Alphabet, among those injecting capital this time around are Dragoneer Investment, DST Global, Sequoia Capital, Tiger Global and Google Ventures.

While there are several Chinese robotaxi companies making progress in their home market and the Middle East and Asia including WeRide, Baidu’s Apollo Go and Pony.ai, in the west Waymo has emerged as a clear leader.

Related:Why Edge AI Is Key to Driving Innovative, Low-Power Use Cases

It outlasted competitor General Motors’ Cruise, which the automaker stopped funding after the fallout of an incident in which a pedestrian was injured in San Francisco in October 2023. It has also forged ahead of Tesla, which has so far largely failed to deliver on its robotaxi promises, as was seen by the soft launch of a service in Austin last year with human safety operators.

Waymo said its success is based on its safety record, which it described as being “statistically superior” to human driving. “Across 127 million miles of fully autonomous operation — the equivalent of going to the moon and back over 260 times — we have achieved a 90% reduction in serious injury crashes,” according to the blog post.

It has advocated what is considered a “rules-based” approach to autonomous driving, where its AI processes images and text prompts in tandem with data from cameras, Lidar, radars and other sensors in pre-mapped areas. This delivers automated functionality via predictions based on data acquired from previous scenarios and engineered logic.

This contrasts with the “end-to-end” AI favored by Tesla and others, which is a neural network based system that sees cars “think” more like humans and is less reliant on sensors. This generalized AI is trained on videos and requires less coding.

With its latest funding secure, Waymo is planning an expansion for 2026, with a number of U.S. cities — including Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego and Washington — all targeted for ride-hailing services. Waymo is also preparing for its first international operations in London and Tokyo.

Strategy ($MSTR) Falls 15% As Investors Brace For Earnings

0

Shares of Strategy dropped sharply Thursday, tumbling more than 15 % in heavy trading as markets reacted to deepening weakness in Bitcoin and ahead of the company’s quarterly earnings report scheduled after the market close. 

Analysts are pricing in a sizable post-earnings move for Strategy, with options markets implying a potential swing of roughly ±8.3% to 8.7% following the report. 

The company’s Q4 2025 earnings call is set for later today at 5 p.m. ET, with a livestream available on Bitcoin Magazine’s YouTube channel.

It’s been a rough week for Strategy, tumbling from the $150 range to sub $110 per share.

The decline marked one of the largest single‑day moves for Bitcoin‑linked equity in recent months and reflected intensifying concerns among institutional and retail investors.

The slide came as Bitcoin’s price plunged toward new year-long lows, extending a broader crypto downturn that has erased significant gains since late 2024. 

Strategy’s dip corresponds with Bitcoin’s price crash

The Bitcoin sell‑off has imposed marked unrealized losses on Strategy’s balance sheet, where crypto holdings account for the vast majority of the company’s assets.

At the time of writing, Bitcoin is trading near $66,000. 

Investors and traders have been vocal on the internet this week about heightened uncertainty surrounding Strategy’s earnings call, given that the company’s financial results will directly reflect Bitcoin’s price volatility under fair value accounting rules. 

Market watchers noted that the fair‑value marking of the company’s holdings could translate swings in BTC prices into sizeable swings in reported earnings for the quarter ending December 31, 2025.

The tension in MSTR’s trading comes after a series of negative moves in BTC and related assets. 

Bitcoin Magazine reported earlier this week that company shares had already sunk over 20 % in just five trading days as Bitcoin’s price headed toward $72,000 and broader crypto markets showed sustained weakness.

Now, bitcoin is fighting for the $65,000 level. Despite price dips, Chairman Michael Saylor has made it clear that Strategy won’t be selling its Bitcoin — and in fact is doubling down on purchases even as the market dips, signaling his intent to keep accumulating more.

In his messaging, he’s basically said he’s comfortable with holding and adding even on weakness, not cashing out when prices fall. 

From Strategy’s website.

Bitcoin Mining Stocks Plunge As Earnings Fall Short

0

Shares in crypto mining companies IREN and CleanSpark sank on Thursday as their earnings came in below Wall Street expectations and Bitcoin’s slide saw traders turn risk-off.

Bitcoin (BTC) has fallen 12% over the past 24 hours to briefly touch a low of $60,000 early on Friday. Meanwhile, the crypto market capitalization fell by almost 9%, according to CoinMarketCap.

CleanSpark (CLSK) led the decline, closing trading on Thursday down 19.13% and falling another 8.6% after-hours to $7.55 after its results for the quarter ended Dec. 31 came in below analyst predictions.

CleanSpark’s stock price fell 19.13% over the trading day on Thursday. Source: Google Finance

CleanSpark said on Thursday that its revenues for the quarter ended Dec. 31 came in at $181.20 million, missing analyst estimates of $186.66 million by around 2.9%.

CleanSpark misses earnings, but eyes AI as profit booster

Analysts at Zacks said that the reduced mining rewards following the Bitcoin halving in April 2024 likely led to “lower mining efficiency” and therefore potentially “constrained profit” during the period.

CleanSpark reported a net loss of $378.7 million, a sharp year-on-year decline compared to the net profit of $246.8 million it reported for the same period in 2024.