Kraken IPO could reopen institutional capital flows into crypto
A potential initial public offering by cryptocurrency exchange Kraken next year could help attract fresh capital from traditional finance investors, according to market observers.
Dan Tapiero, founder and CEO of 50T Funds, said the Bitcoin bull market remains “mid-stage” despite recent volatility, reports Cointelegraph.
Bitcoin reached an all-time high above $126,000 in early October but has since struggled to recover from a $19 billion liquidation event that hit the sector days later. At the time of writing, Bitcoin was trading near $87,000, down about 6% over the past two weeks, according to CoinGecko. Tapiero argued that events such as Kraken’s IPO and a growing wave of mergers and acquisitions could provide meaningful tailwinds. Kraken raised $800 million in November at a reported $20 billion valuation and has filed confidentially for a US IPO. These developments, he said, could reopen the door for sidelined institutional capital.
Analysts split on Bitcoin’s trajectory in 2026
Not all market strategists share Tapiero’s optimism about the cycle extending smoothly into 2026. Jurrien Timmer, Fidelity’s director of global macro research, expects Bitcoin to face a down year, potentially bottoming between $65,000 and $75,000. He pointed to historical patterns, noting that previous Bitcoin bear markets typically lasted around a year. In a recent post, Timmer suggested 2026 could be an “off year” following the strong gains seen earlier in the cycle.
His outlook highlights persistent uncertainty as the market transitions from rapid expansion to consolidation. The divergence in views underscores how difficult it has become to rely solely on past four-year cycles. Instead, macroeconomic conditions and liquidity trends are increasingly shaping expectations.
Macro forces reshape the traditional crypto cycle
Some industry participants believe that focusing too narrowly on downside risks may overlook larger structural shifts. Jimmy Xue, co-founder and COO of onchain yield platform Axis, said Bitcoin’s four-year cycle is evolving into a broader, liquidity-driven trend. He acknowledged growing institutional caution toward the end of 2025 but argued that global liquidity conditions could still support higher long-term price floors. If liquidity continues to loosen, Xue said, support near $75,000 could ultimately be seen as a higher low in a prolonged super-cycle.
Onchain data, however, suggests near-term caution remains. Nansen data shows “smart money” traders are net short on most major cryptocurrencies, with the exception of Avalanche and Pump.fun’s token. The mixed signals reflect a market caught between short-term risk aversion and longer-term structural optimism.
Recently we wrote that internet service providers in the Philippines have begun blocking access to major global crypto exchanges as regulators tighten enforcement of local licensing rules.
Latest Kraken News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
