Is Kraken’s IPO the Lifeboat Crypto Needs? Find Out! 🚀💸

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Ah, dear readers, gather ’round as we delve into the world of cryptocurrency, a realm where fortunes are made and lost faster than one can say “blockchain.” The illustrious exchange, Kraken, might just be preparing to unfurl its sails and embark on the grand voyage of an initial public offering (IPO) next year. This, my friends, could lure in fresh capital from those staid traditional finance (TradFi) investors who have, until now, eyed crypto like a cat watches a cucumber – with suspicion and a touch of horror.

On that fateful day of October 6, Bitcoin reached a dizzying height of over $126,000, only to plummet into the depths of despair shortly thereafter, following a $19 billion liquidation event. Today, as we muse over the state of affairs, our beloved Bitcoin hobbles along at $87,015 per coin, down 6% in a mere fortnight, according to the ever-reliable CoinGecko. One might say it’s as if Bitcoin has taken a tumble down a particularly steep hill, gasping for breath at every turn.

Yet, amidst this turmoil, Dan Tapiero, the sagacious founder and CEO of 50T Funds, proclaims that the Bitcoin bull market is still in its “mid-stage.” Oh, how reassuring! He argues that Kraken’s IPO, along with a veritable flurry of mergers and acquisitions, may just provide the necessary tailwinds for TradFi to finally take the plunge into this tempestuous sea.

Kraken, in a move that would make any entrepreneur swell with pride, recently announced it has raised a whopping $800 million, achieving a valuation of $20 billion. One must wonder if they threw a lavish party for this occasion, complete with balloons and confetti. It appears they filed for a U.S. IPO earlier this very month – quite the busy bees, aren’t they?

Crypto industry watchers are divided over the bull cycle’s continuation in 2026

However, not all analysts are donning their rose-colored glasses. Fidelity’s own Jurrien Timmer, a stalwart of global macroeconomic research, whispers darkly of a “year off” for Bitcoin in 2026, predicting a descent to a local bottom around $65,000. Ah, the sweet sound of pessimism!

“Bitcoin winters have lasted about a year,” he mused, penning his thoughts in a Thursday post that surely sent shivers down the spines of many a crypto enthusiast. Support, he claims, hovers ominously between $65,000 and $75,000 – a veritable graveyard of hopes and dreams.

Meanwhile, Jimmy Xue, the formidable co-founder and chief operating officer of Axis, a quantitative yield platform managing $100 million in live capital, offers a glimmer of hope amid the gloom. He asserts that while the four-year cycle provided an “initial rhythm,” the market’s current movements are now swayed by more fundamental forces – global liquidity and the gentle caress of sovereign adoption, perhaps?

“It’s not surprising to see institutional caution as we close out 2025,” Xue remarked, acknowledging Fidelity’s cautionary call for a pullback as a “valid reminder that volatility is still on the table.” And how delightful that volatility is, like a rollercoaster ride without the safety bar!

“However, framing 2026 purely as a year of downside might be missing the forest for the trees,” he added, with the kind of optimism that could charm a snake out of its skin.

“If global liquidity continues to loosen, that $75k support might actually end up being a higher low in a longer, super-cycle structure,” he explained, as if he were a modern-day oracle deciphering the cryptic messages of the financial cosmos.

And let us not forget the so-called “smart money” traders, those intrepid souls who navigate these turbulent waters. They have been net short on nearly all leading cryptocurrencies, save for the Avalanche (AVAX) token and the memecoin launchpad Pump.fun’s (PUMP) coin. A curious selection, indeed!

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2025-12-24 14:37