Core Viewpoint - Ethereum has struggled to reach the $5,000 price level, despite significant attempts, with its current price around $2,350. The year 2026 is seen as a plausible time for it to potentially reach this milestone if certain conditions are met [1][2]. Group 1: Price Performance - Ethereum's price peaked at $4,946 in August 2025, just above its previous all-time high of $4,815 from late 2021, before declining to approximately $2,350 [2]. - The coin has not yet achieved a value of $5,000 per coin despite two notable attempts [2]. Group 2: Upcoming Upgrades - Ethereum's success is attributed to its strong technical leadership, which has implemented significant upgrades, including Pectra and Fusaka, aimed at enhancing scaling and throughput capabilities [3]. - The next upgrade, "Glamsterdam," is scheduled for the second half of 2026 and will introduce features like enshrined proposer-builder separation (ePBS) and block-level access lists (BALs) [4]. Group 3: Impact of Upgrades - The upgrades are expected to significantly reduce gas fees for users and decentralized finance (DeFi) applications, while also improving the throughput of layer-2 (L2) blockchains [5]. - If Glamsterdam functions as intended, it could make the Ethereum ecosystem more affordable and reliable, potentially attracting more capital and boosting Ethereum's price [6]. - However, it is suggested that these upgrades alone may not be sufficient for Ethereum's price to exceed $5,000 within the year [7].

Core Viewpoint - Bitcoin (BTC-USD) has fallen to $67,000, marking its lowest level in 2024, driven by increased selling pressure and a lack of government intervention in the cryptocurrency market [1][4]. Group 1: Market Reactions - U.S. Treasury Secretary Scott Bessent stated that the government will not intervene to rescue the cryptocurrency market, which contributed to Bitcoin's continued decline [5]. - The market is experiencing heightened selling pressure, exacerbated by warnings from notable investors like Michael Burry, who suggested that the ongoing decline in Bitcoin prices could lead to a "death spiral" and significant asset value destruction [5][6]. - Bitcoin has dropped nearly 20% year-to-date, reflecting a broader trend of declining prices in the cryptocurrency market [1][5]. Group 2: Technical Analysis - Bitcoin's recent drop has resulted in a record fourth consecutive month of declines, coinciding with the announcement of Kevin Warsh as a potential successor to Jerome Powell as Federal Reserve Chair, which is perceived as a hawkish signal [6]. - Ethereum (ETH-USD) and other cryptocurrencies have also seen declines, with market sentiment shifting significantly as investors are not ready to buy the dip [7]. - Fundstrat's Sean Farrell identified the $75,000 range as a reasonable support level, based on previous price points, while cautioning that the market remains in a downtrend with significant risks from traditional markets [7].

Core Viewpoint - Ether (ETH) has experienced significant price declines, currently trading around $1,950, down 60% since August and 42% since January 14, largely due to market sell pressure and underperformance compared to other cryptocurrencies [1][2]. Group 1: Market Dynamics - The current downturn is attributed to a broader crypto bear market, with ETH underperforming compared to larger cryptocurrencies like Bitcoin (BTC), XRP, and Cardano (ADA), which have seen declines closer to 35% since mid-January [2]. - A notable factor in ETH's decline has been large sales from Ethereum founder Vitalik Buterin and derivatives traders, contributing to increased sell pressure [2][5]. - Onchain analysts report that a specific entity has sold approximately 47,000 ETH (valued at $120 million) over four days, including 31,700 ETH in a single five-hour period, to repay loans on Aave [3]. Group 2: Collateral and Liquidation Risks - The wallets involved in the recent sales still hold nearly 50,000 ETH as collateral on Aave, with about $86 million in USDC borrowed against it, putting their position close to liquidation as ETH prices fall [3]. - This situation creates a feedback loop where price drops lead to weakened collateral, necessitating debt repayment, which in turn results in more ETH being sold [4]. Group 3: Institutional Sentiment and Trading Strategies - ETH's steep decline is partly due to its status as the primary asset for leverage in the crypto market, leading to it being sold first when traders unwind positions [5]. - Institutional investors currently show a preference for Bitcoin over Ethereum, as noted by former White House communications director Anthony Scaramucci, who suggests that while institutions may eventually diversify into Ethereum, Bitcoin remains the favored asset at this time [6]. - There is a segment of the market engaging in delta-neutral trades, which involves buying spot ETH and lending it while shorting the asset on futures, potentially increasing sell pressure if funding rates shift [6].

Core Insights - ETHZilla Corporation has acquired 95 manufactured and modular home loans for $4.7 million, intending to convert this portfolio into a tokenized financial product on an Ethereum Layer 2 network [2][3] - The tokenized portfolio is expected to support on-chain tracking and automated cash-flow distributions, generating an annualized yield of approximately 10.36%, with a launch planned for late February or early March on the Liquidity.io trading platform [3][4] - The transaction is part of ETHZilla's broader strategy to tokenize established, cash-flow-generating assets, leveraging its existing relationship with Zippy Loans, LLC, which will continue servicing the loans [4][6] Company Developments - ETHZilla has launched a wholly owned subsidiary, ETHZilla Modular Mortgage LLC, as part of its recent initiatives [5] - The company is transitioning from pure treasury management to developing a tokenization platform for physical assets, following its acquisition of two aircraft engines for another tokenization experiment [6][7] - ETHZilla has raised $565 million from over 60 investors to establish an ETH token treasury and on-chain yield strategy, reflecting a significant pivot in its business model [6][7]

Price Movement - Bitcoin's price has fallen 11% to $67,000, marking its lowest level in 15 months [1] - The cryptocurrency has lost 46% of its value since reaching a record high of $126,210.50 on October 6 [1] Market Impact - Companies facilitating cryptocurrency trading, such as Coinbase and Robinhood, have experienced significant declines, with Coinbase falling 9.1% and Robinhood losing 8.1% [3] - Bitcoin mining company Riot Platforms saw a drop of 10% [3] Company-Specific Performance - Strategy, a major crypto treasury company, tumbled 13% and holds 713,502 bitcoins, with an average purchase price above $76,000, indicating a loss on investment [4] - The current value of Strategy's bitcoin holdings is approximately $47.8 billion, down from the reported cost of $54.3 billion [4] Trump-Related Ventures - American Bitcoin, associated with Donald Trump's sons, has decreased by 6.6% and is down over 80% since October 7 [5] - Other Trump-related crypto ventures have also seen declines, with the market value of the World Liberty Financial token dropping from above $6 billion to about $3.25 billion [6] - The price of the meme coin $TRUMP has fallen to $3.93 from an asking price of $45 prior to Trump's inauguration [6]

Core Viewpoint - The cryptocurrency sector experienced a significant downturn, with major stocks and cryptocurrencies plummeting in value, indicating a potential crisis in the market [1] Group 1: Cryptocurrency Market Performance - Cryptocurrency stocks such as Hut 8 (HUT.US) and Strategy (MSTR.US) fell over 11%, while CleanSpark (CLSK.US) and MARA Holdings (MARA.US) dropped more than 10%, and Coinbase Global (COIN.US) decreased by over 8% [1] - Bitcoin saw a nearly 10% decline, falling below $68,000, marking a cumulative drop of over 40% since its peak of $126,000 in October last year [1] - Ethereum also experienced a significant drop of over 9%, falling below $2,000 [1] Group 2: Market Predictions and Influences - The prediction platform Polymarket indicates an 82% probability that Bitcoin will fall below $65,000 this year, with a 60% chance of dropping below $55,000 [1] - U.S. Treasury Secretary Scott Bentsen suggested that the government would not provide a bailout for cryptocurrencies, which may have triggered the market's decline [1] - Notable investor Michael Burry warned that the continued drop in Bitcoin prices could lead to a "death spiral," resulting in a large-scale collapse in value [1]

Core Viewpoint - The cryptocurrency sector is experiencing a significant downturn, with major stocks and cryptocurrencies facing substantial declines, primarily driven by a sell-off triggered by negative market sentiment and regulatory comments [1] Group 1: Cryptocurrency Market Performance - Cryptocurrency stocks such as Hut8 (HUT.US) and Strategy (MSTR.US) fell over 11%, while CleanSpark (CLSK.US) and MARA Holdings (MARA.US) dropped over 10%, and Coinbase Global (COIN.US) decreased by over 8% [1] - Bitcoin plummeted nearly 10%, falling below $68,000, marking a cumulative decline of over 40% since its peak of $126,000 in October last year [1] - Ethereum also saw a significant drop of over 9%, falling below $2,000 [1] Group 2: Market Predictions and Sentiment - The prediction platform Polymarket indicates an 82% probability that Bitcoin will fall below $65,000 within the year, with a 60% chance of dropping below $55,000 [1] - U.S. Treasury Secretary Scott Behnke suggested that the government would not provide a bailout for cryptocurrencies, which may have contributed to the market's decline [1] - Notable investor Michael Burry warned that the continued drop in Bitcoin prices could trigger a "death spiral," leading to a large-scale collapse in value [1]

Core Viewpoint - The article discusses the current financial challenges faced by Strategy Inc. (MSTR) due to the decline in Bitcoin prices, urging its Chair Michael Saylor to take action to stabilize the situation before the upcoming earnings report. Financial Position - Strategy Inc. has a total debt of $8.24 billion and owns 713,502 BTC, which were acquired for over $54 billion at an average price of $76,052 per BTC [1][5] - The company's Bitcoin position briefly turned negative as of the recent market conditions, indicating a potential financial strain [5] Market Commentary - Jim Cramer, a prominent market commentator, has been vocal about the need for Saylor to issue a zero-coupon convertible bond to prevent further decline in Bitcoin prices, identifying $73,802 as a critical support level [4][6] - Cramer emphasized that the company's earnings are dependent on stabilizing Bitcoin prices and urged Saylor to act before the earnings report [3][4] Investment Strategy - The article highlights the leveraged nature of MSTR as a Bitcoin proxy, with its strategy of issuing various financial instruments to acquire more Bitcoin as prices rise [1] - Saylor has previously stated that the firm is designed to withstand significant Bitcoin price drawdowns, indicating a long-term holding strategy [6]

Core Viewpoint - The company reported a loss of $3.73 per share in the fourth quarter, but revenue exceeded $92 million, surpassing estimates, indicating resilience despite market challenges [1]. Financial Performance - The company achieved record revenue and adjusted EBIT, demonstrating strong operational performance even amid a downturn in the cryptocurrency market [5][11]. - Customer numbers reached an all-time high, reflecting successful client acquisition strategies [11]. Market Context - Bitcoin's price has dropped to around $69,000, with predictions that it may not fall below certain thresholds, indicating ongoing volatility in the cryptocurrency market [3]. - The current market environment is characterized by a "crypto winter," with significant price declines across various cryptocurrencies, including Ethereum and Solana [7]. Institutional Focus - The company is focusing on institutional clients, emphasizing compliance and building a regulatory framework that distinguishes it from other crypto firms [10][12]. - The strategy includes launching an options platform and catering to long-term institutional investors rather than speculative traders [11][12]. Future Outlook - There is optimism about the future of blockchain technology and the potential for a market structure bill in Congress, which could facilitate broader adoption of digital assets [6]. - The company believes that the current bear market presents opportunities for smart, long-term investments and growth [10][15]. Industry Trends - The cryptocurrency industry is expected to undergo significant consolidation due to the current market decline, with many companies needing to merge to achieve scale and viability [20][21]. - The trend towards tokenization of assets is seen as a key growth area, with the company positioning itself to capitalize on this shift [17][18].

Dan Ies of Web Bush Securities, Jeff Kilberg of KKM Financial. Great to have you both here. Dan, I mean, you just mentioned Apple right before the break.So, I want to get your response to this. >> I mean, look, for if you look European regulators and Apple, I mean, that's for them like drinking a cappuccino. I I'm not concerned at all in terms of any issues in Europe.Look, to some extent, Apple, they're on the offensive. And I think the reality is when you look at the Google numbers, you look at what they'r ...