Technology investor Jason Calacanis urged investors to sell bitcoin and move into artificial intelligence, predicting it will fall to $57,000 within the next 12 months and never set another record high. That is about 28% below bitcoin's level near $79,600 on Tuesday, according to CoinDesk data. He pointed to bitcoin exchange-traded fund outflows of about $774 million across Thursday and Friday, according to Farside Investors, although $110 million returned on Monday. He remains invested in TAO, the token behind Bittensor, which rewards participants for providing computing, storage and other services used to build AI.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on CoinDesk ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/26/2026 | 80,150.56 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- CF Benchmarks brings Wall Street pricing infrastructure onchain, including data used by BlackRock
CF Benchmarks, whose indices underpin BlackRock's bitcoin ETF and CME Group's crypto futures, has launched CFB Oracle to give blockchain applications access to its benchmarks for cryptocurrencies, stocks, bonds, commodities and currencies. The service lets developers build onchain index funds, tokenized portfolios and derivatives without building their own pricing systems, and is available on Ethereum, HyperEVM and Robinhood Chain. Its indices are used by products with more than $120 billion in assets, and the data is digitally signed so applications can verify that prices came from the company. Payward, Kraken's parent and owner of CF Benchmarks, plans to use the service for a U.S. perpetual futures product powered by Hyperliquid (HYPE), which still awaits regulatory approval.
- Now is the time to accumulate bitcoin, Galaxy says
Alex Thorn, head of firmwide research at Galaxy Digital, argues the bitcoin bear market ended in June, when prices bottomed below $58,000, and that bitcoin is now in an accumulation phase like those before past rallies. He cites a recovery above the 50-week moving average after 44 weeks below it, along with five straight weekly closes above that level. Net long exposure from asset managers through CME bitcoin futures has fallen 57% from the record-high week, while spot bitcoin ETFs added 87,000 BTC after the June low. Bitcoin traded near $80,000, about 35% below its record high of over $126,000. Galaxy warns that a weekly close below $76,540 without recovery within a month would challenge its technical outlook.
- Bitcoin ETFs claw back $110M after $774M exit
US spot Bitcoin ETFs returned to net inflows of $110 million on Monday, after $774 million in outflows over the previous two trading sessions, according to SoSoValue. October remained negative, with about $202 million in net outflows through Monday. Bitcoin traded at $79,595 at publication, down 2.6% over the past seven days per CoinGecko, while the Crypto Fear & Greed Index fell to 48 from 50, staying in 'Neutral' territory. CryptoQuant data showed retail deposits to Binance nearly doubled over 30 days to $10.8 billion, while deposits from large holders fell to $3.8 billion, and analyst Darkfost suggested smaller investors may be using the price rebound to sell.
- Do Bitcoin ETF Flows Really Predict Future Bitcoin Price Moves? This New Research Has Important Implications for BTC Investors.
A DWF Labs study finds Bitcoin ETF flows have limited predictive power because investors tend to chase performance, exiting after big declines and returning after big rallies. Price usually moves first, and the link between flows and price fades within a few days. Many spot ETF investors sell when Bitcoin drops only about 7%, and in five of eight major sell-offs, ETF selling intensified just days before a bottom. The largest fund, IBIT, with $68.7 billion in assets under management as of Oct. 23, reportedly carries no more signal than smaller rivals. The article concludes that investors should not put much stock in ETF flows.
- Could Hyperliquid (HYPE) Overtake Solana (SOL) in Market Value by 2030? Claude AI Puts a Number on It
The article says Bitcoin must rise about 58.8% from $79,401 to surpass its $126,080 record set on October 6, 2025, a move that implies a market value of about $2.53 trillion versus roughly $1.60 trillion today. The next halving is projected for 2028, after the April 2024 halving, when the peak came about 18 months later. Spot Bitcoin ETFs hold $104.7 billion in net assets and have seen $57.2 billion in cumulative net inflows as of October 23, while Strategy Inc. (MSTR) holds 848,517 BTC. The 10-year Treasury yield fell from 5.31% on October 5 to 4.96% on October 22, while the Fed's benchmark rate stayed at 4.00%. The article judges a new high before 2028 unlikely, with a more realistic range of $63,847 to $100,000, and a pessimistic case of a return to $63,847 if ETF outflows rise and the VIX stays above 20.
- Bitcoin Dips Below $80,000 Ahead of Fed Decision, Midterms
Bitcoin briefly fell below $80,000, touching about $79,330 before recovering to $80,264, down 2.7% on the week according to CoinGecko. The dip followed a sell-off in tech stocks and caution ahead of the Fed's rate decision, with U.S. spot Bitcoin ETFs seeing $773 million in net outflows on Thursday and Friday. Daniela Hathorn of Capital.com linked the pressure to persistent inflation, high Treasury yields and expectations of further Fed tightening, while Tim Sun of HashKey said outflows and unwinding leveraged positions amplified the decline. Tim Sun sees $75,000 as a key support level if prices fall further, while Stephen Wundke of Algoz says Bitcoin needs to hold $82,000 to support the bull case. Analysts expect volatility to stay elevated ahead of Wednesday's Fed decision and the U.S. midterm elections on November 3.
Related markets
Latest news
- Tesla's Q3 Per-Car Fiscal Metrics Show Minor but Important Progress
Tesla reported revenue of just over $28 billion and EPS of $0.48, beating estimates of $27.9 billion and $0.43, but investors balked at a lowered 2026 spending outlook of $20 billion, down from around $25 billion, largely funded from operating cash flow. Per-car production costs fell for a second straight quarter, from $37,748 in Q2 to $36,077 in Q3, and gross profit per delivery rebounded from $7,213 to $7,864. Average selling prices have dropped since the first quarter, partly reflecting more sales of the lower-cost Model 3. The article sees modest but encouraging progress in Tesla's EV profitability, which could allow the business to stand on its own while Tesla pursues robotaxi and robotics ventures.
- AMD and Nvidia Split the AI Chip Market. 1 Stock Is Far Cheaper Today.
Nvidia's data center revenue reached $89 billion in the second quarter of fiscal 2027 (ended July 26), growing 117% versus AMD's 107%. The article notes that AMD's data center division is more than 10 times smaller, yet Nvidia is growing faster, while AMD trades at a forward-earnings valuation about three times Nvidia's. The author expects the gap to narrow and says Nvidia will be the better stock to own over the next few years, given its broad exposure to the AI arms race.
- NVIDIA Just Took CPU Business From AMD and Intel. What It Does to the Target
NVIDIA's Vera CPU is already shipping to hyperscalers, and management expects CPU revenue to more than double in fiscal 28. The Grace CPU's trailing 12-month revenue exceeded $5 billion. After shares fell 4.09% over the past week and 2.34% over the past month, the 24/7 Wall St. price target of $260.60 sits 19.91% above the $217.33 price, and the article's model rates the stock a Buy. In Q2 fiscal 2027, revenue reached $96.221 billion, above the $92.07 billion estimate, and Data Center revenue rose 117%. The bull case reaches $271.47 within a year, while the bear case works out to $226.67; risks include $279 billion in supply commitments, days sales outstanding extended to 60 days from 45, and Q4 gross margin guidance of 71% to 72%.
- Singapore Data Center GPU Market Size, Share, Trends, and Forecasts, 2026-2031 | Generative AI and Hyperscaler Expansion Propel Market to USD 0.79 Billion at 13.37% CAGR
The Singapore data center GPU market was valued at USD 0.42 billion in 2026 and is projected to reach USD 0.79 billion by 2031, growing at a 13.37% CAGR over 2026–2031. Key drivers include generative AI, large language model training, and hyperscaler investment, with Microsoft, Amazon Web Services, and Google earmarking more than USD 19 billion for Singapore infrastructure projects over 2024–2029. The DC-CFA2 program caps expansion at 200 megawatts and requires 50% renewable energy, while limited space creates cooling, electrical, and structural challenges that can extend timelines and raise costs. Cloud data centers held 67.42% of the market in 2025, while edge data centers are forecast to grow fastest at a 16.94% CAGR.
- Nio's Sales Surged 49%, but There's an Even Better Number Investors Should Know
Nio delivered 300,301 vehicles through September, up 49.2% year over year, across its Nio, Onvo, and Firefly brands. Vehicle gross margin reached 18.5% in the second quarter, up 8.2 percentage points from 10.3% a year earlier, even as the company expanded into more affordable EVs. Management attributed the improvement to a more favorable product mix and cost optimization. Other sales gross margin swung from negative 29% in 2022 to positive 6.6% in 2025, helped by the growing battery-swap network, though vehicle gross margin slipped from 18.8% in the first quarter to 18.5% in the second. Management believes Nio will be net profitable next year, but the article notes the latest results do not yet settle that question.
- Don't Be Surprised If NVIDIA, Micron, and SanDisk Outperform the Market Again
NVIDIA, Micron and SanDisk (NVDA, MU, SNDK) have led the 2026 chip rally, with year-to-date gains of 14.71%, 205.02% and 437.47%, respectively. Estimates have kept rising: NVIDIA's fiscal 2028 EPS to $15.9146 (from $12.7636 90 days ago), Micron's fiscal 2027 to $176.6868 (from $150.0075), and SanDisk's fiscal 2028 to $266.2971 (from $248.4217). At $213.43, NVIDIA trades at 13 times fiscal 2028 estimates; at $300 (a 41% gain) that would be 19 times, still below the S&P 500's 21-23 times. Micron trades at 5 times fiscal 2027 estimates at $869.87, and $1,500 (a 72% gain) would be about 8 times; SanDisk trades at 6 times fiscal 2027 estimates, and $2,000 (a 57% gain) would be 9 times. The article cites at least $93.9 billion in expected revenue from SanDisk's agreements and a $15.5 billion buyback, while noting that memory has always been cyclical.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.