Kraken Ipo, M&a Deals To Reignite Crypto's 'mid-stage' Cycle: Fund...

Kraken’s pending IPO and the wave of crypto companies seeking public listings may help the industry attract more TradFi capital.

A potential initial public offering (IPO) next year by cryptocurrency exchange Kraken may attract fresh capital from traditional finance (TradFi) investors.

Bitcoin recorded an all-time high price above $126,000 on Oct. 6, but hasn’t recovered from a $19 billion liquidation event that hit the industry a few days later. At the time of writing, the world’s largest cryptocurrency was trading at $87,015 per coin, down 6% in two weeks, according to CoinGecko.

Still, Dan Tapiero, founder and CEO of 50T Funds, claimed that the Bitcoin (BTC) bull market is "still mid-stage.” He added that Kraken’s IPO and an increasing number of (M&As) may provide the necessary tailwinds to bring new capital from TradFi.

Kraken raised $800 million in funding to reach a $20 billion valuation, the exchange announced on Nov. 18. It reportedly filed for a US IPO earlier in November.

Not all analysts are convinced that the bull cycle will continue. Fidelity's director of global macroeconomic research, Jurrien Timmer, expects a year of downside for Bitcoin in 2026.

Related: Clarity Act delays led to $952M in crypto fund outflows: CoinShares

Tapiero's prediction contrasts with the views shared by Timmer, who expects a down year may lead Bitcoin to a local bottom around $65,000.

“Bitcoin winters have lasted about a year, so my sense is that 2026 could be a ‘year off’ (or ‘off year’) for Bitcoin. Support is at $65-75k,” wrote Timmer in a Thursday X post.

While Bitcoin’s four-year cycle provided the “initial rhythm,” market movements are now dictated by more fundamental drivers, including global liquidity and continued sovereign adoption, according to Jimmy Xue, co-founder and chief operating officer of Axis, an onchain quantitative yield platform managing $100 million in live capital.

Source: CoinTelegraph