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For Bitcoin (BTC) and altcoins, 2025 was a year marked by both significant rises and sharp declines.
The last quarter erased much of the year’s gains, leaving predictions for 2026 mixed. Bitcoin’s price for 2026 ranges from $250,000 to $10,000.
In its latest market assessment, Grayscale stated that the next phase of the crypto market will likely be determined by the macroeconomic environment and regulatory clarity.
At this point, Grayscale stated that macroeconomic pressure, increasing demand, and clearer regulations in the US are paving the way for a bull market for Bitcoin and altcoins in 2026.
Speaking on CNBC’s “Crypto World” program, Grayscale research head Zach Pandl said that the most fundamental driving force for Bitcoin and cryptocurrencies is macroeconomic pressure.
“With rising government debt, chronic budget deficits, and growing concerns about the depreciation of fiat currency, investors are looking beyond traditional assets. Investors are seeking alternative stores of value.”
Pandl added that these macroeconomic imbalances and pressures are unlikely to disappear in the near term, meaning he expects portfolio shifts towards Bitcoin and cryptocurrencies to continue into 2026.
Pandl also cited improvements in the US regulatory environment as another basis for the rise. He said regulatory clarity could allow startups, established firms, and even Fortune 500 companies to issue tokens as part of their capital structures, alongside stocks and bonds. “Token issuance could become one of the standard fundraising methods,” Pandl stated.
*This is not investment advice.