Odaily Planet News: Cryptocurrency exchange Kraken has analyzed that the crypto market will undergo significant adjustments by 2026, shifting its focus from price volatility to infrastructure development. Kraken's global economist, Thomas Perfumo, noted that the collision of macroeconomic uncertainty, institutional capital flows, and increasingly interconnected market structures is reshaping the Bitcoin cycle. Perfumo stated that Bitcoin remains a key indicator of risk sentiment, but demand, liquidity, and risk channels have changed. Last year, the U.S.-listed spot Bitcoin ETFs and digital asset financial firms contributed nearly $44 billion in net spot demand. However, market performance did not meet expectations due to the large amount of tradable inventory supplied by long-term holders. This year, U.S. regulatory developments will reshape the form of on-chain liquidity. Without a clear risk preference backdrop, a slowdown in institutional tool adoption and compressed premiums may limit Bitcoin's upward potential. (The Block)
Kraken Predicts 2026 Crypto Market Shift Toward Infrastructure
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Summary
According to Odaily, Kraken predicts a 2026 shift in the cryptocurrency market toward infrastructure. Global economist Thomas Perfumo states that the focus will transition from price volatility to foundational development. Macroeconomic uncertainty and institutional capital flows are reshaping Bitcoin's cycle. U.S. spot Bitcoin ETFs and digital asset firms added $44 billion in net demand last year, but gains were limited by long-term holders. This year's U.S. regulatory developments may alter on-chain liquidity. Slower institutional momentum and tighter premiums could cap Bitcoin's upside. The latest crypto market update highlights evolving risk channels and liquidity dynamics.
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