Bitcoin remains below $80,000 as investors assess shifting macroeconomic conditions and increasingly turn their attention to artificial intelligence. Although oil prices and interest rate expectations have eased and equities have strengthened, cryptocurrency markets continue to struggle.
SoFi Crypto Accounts Top 500,000 as Shares Surge 11%
SoFi Technologies reported more than 500,000 cryptocurrency accounts less than a year after reintroducing digital asset trading, according to its third-quarter earnings released Tuesday.
The fintech company counted 503,070 crypto accounts at the end of September, following the late-2025 relaunch of SoFi Crypto. The service enables customers to trade and hold digital assets alongside traditional financial products.
Crypto transactions generated $161.6 million in revenue during the quarter, but associated costs totaled roughly $160 million. As a result, net revenue from crypto transactions reached only $1.63 million. For the first nine months of 2026, the figure stood at $3.67 million.
Across its broader business, SoFi reported a 44% annual increase in quarterly revenue to $1.39 billion. Its shares rose 11% in premarket trading after the results were published.
Galaxy Digital Advances After Beating Earnings Forecasts
Galaxy Digital posted third-quarter results above analyst expectations, with Bitcoin’s gains during the period contributing to its performance.
The company reported $419 million in treasury and corporate profit, compared with a $42 million loss in the previous quarter.
Galaxy also introduced a new $200 million share buyback authorization after completing its previous program. It has repurchased approximately 9.8 million shares so far this year.
CEO Mike Novogratz said the company’s progress across its businesses was broadening its earnings base and positioning it to capture future growth opportunities.
Galaxy’s Helios I data center project is fully financed for its second phase, which remains under construction and on schedule. The company is also discussing potential leases for another 830 megawatts of capacity at Helios II, citing improving market conditions.
Shares gained 4.5% in premarket trading, although they were still down more than 30% over the previous month.
Jason Calacanis Predicts Further Bitcoin Weakness
Venture capitalist Jason Calacanis warned that Bitcoin could revisit $57,000 within the next 12 months, arguing that investors may find better opportunities elsewhere.
In a post on X, Calacanis questioned Bitcoin’s value beyond its store-of-value role and encouraged investors to redirect capital toward artificial intelligence, which he believes offers greater potential for creating economic value.
He subsequently expressed optimism about Bittensor (TAO), citing its focus on AI development. However, TAO has also experienced substantial losses, declining 25% over the past month and 38% over the previous year.
Calacanis’s latest forecast drew criticism from users who recalled his earlier bearish predictions about Bitcoin, which were made when the cryptocurrency traded at much lower prices.
Bitcoin Slips as AI Companies Attract Billions in Investment
Bitcoin fell to approximately $79,750 early Tuesday, losing 0.6% over 24 hours before U.S. stock markets opened. Ether and Solana recorded similar declines, while XRP gained 1% following Ripple’s receipt of final approval for its U.S. national trust bank.
Bitcoin’s price was down 2.5% over seven days, even as oil prices retreated and expectations for Federal Reserve rate hikes weakened.
Meanwhile, equity markets continued to advance. The Nasdaq rose more than 1% on Monday, and futures added another 0.4% on Tuesday.
Artificial intelligence is once again attracting significant investor capital. Meta announced a $95 billion capital raise, while Anthropic filed for an IPO, with reports suggesting the company could seek as much as $100 billion.
Together, the potential fundraising efforts amount to nearly $200 billion, highlighting the enormous demand for AI-related investment and the competition it creates for capital that might otherwise flow into cryptocurrency markets.
Investors are now awaiting the Federal Reserve’s decision on Wednesday. Markets broadly expect interest rates to remain unchanged, with attention likely to focus on the central bank’s outlook for future monetary policy.
