Bitcoin Holds Below $80K as Capital Flows Toward the AI Boom

Bitcoin is struggling to recover above $80,000 as investors redirect attention toward artificial intelligence and large-scale technology investments. The weakness persists even as oil prices decline, expectations for further Federal Reserve rate hikes ease, and stock markets move higher.

SoFi Adds More Than 500,000 Crypto Accounts After Relaunch

SoFi Technologies reported that its cryptocurrency platform had attracted 503,070 accounts by Sept. 30, less than a year after the company restored digital asset trading in late 2025.

The service allows customers to buy, sell, and hold cryptocurrencies alongside traditional banking and investment offerings. The latest figures appeared in SoFi’s third-quarter earnings report released Tuesday.

Crypto transactions generated $161.6 million in revenue during the quarter. However, related expenses reached approximately $160 million, leaving the business with $1.63 million in net transaction revenue. For the first nine months of 2026, net crypto transaction revenue totaled $3.67 million.

SoFi’s overall quarterly revenue increased 44% year over year to $1.39 billion, reflecting broader growth across its financial services operations. The company’s shares climbed 11% in premarket trading following the earnings release.

Galaxy Digital Reports $419 Million in Treasury and Corporate Profit

Galaxy Digital delivered third-quarter earnings above market expectations, partly benefiting from Bitcoin’s price performance during the period.

The company recorded $419 million in treasury and corporate profit, compared with a $42 million loss in the preceding quarter.

Galaxy also announced a new $200 million share repurchase authorization after completing its previous program. It has bought back approximately 9.8 million shares so far this year.

CEO Mike Novogratz said the company’s progress across its businesses was strengthening its earnings profile and expanding its opportunities for future growth.

Galaxy’s Helios I data center project is fully financed for its second phase, which is under construction and progressing as planned. The company is also discussing leasing arrangements for an additional 830 megawatts of capacity at Helios II, citing increasingly favorable market conditions.

Galaxy shares rose 4.5% before the market opened, although they remained down more than 30% over the previous month.

Jason Calacanis Warns Bitcoin Could Drop to $57,000

Venture capitalist Jason Calacanis has forecast further weakness for Bitcoin, suggesting the cryptocurrency could revisit $57,000 within the next 12 months.

In a post on X, Calacanis argued that investors have alternative opportunities with greater potential to generate value. He questioned Bitcoin’s utility beyond its store-of-value function and encouraged investors to shift capital toward artificial intelligence.

He subsequently expressed a bullish view on Bittensor (TAO), citing its focus on AI infrastructure. However, TAO has also faced selling pressure, declining 25% over the past month and 38% over the previous year.

Calacanis’s comments prompted users to revisit his earlier bearish Bitcoin predictions, many of which were made when the asset traded at considerably lower prices.

Bitcoin Faces Pressure as AI Companies Pursue Major Funding

Bitcoin slipped to approximately $79,750 early Tuesday, down 0.6% over 24 hours ahead of the U.S. market opening. Ether and Solana also declined, while XRP gained 1% after Ripple received final approval to establish a U.S. national trust bank.

Bitcoin was down 2.5% over the previous seven days, even as oil prices pulled back and expectations for additional Federal Reserve rate hikes weakened.

Stock markets showed a different trend. The Nasdaq advanced more than 1% on Monday, and futures gained another 0.4% on Tuesday.

Investor interest in AI is increasing as major companies pursue substantial financing. Meta announced a $95 billion capital raise, while Anthropic filed for an initial public offering, with reports suggesting it could seek as much as $100 billion.

The potential funding efforts total nearly $200 billion, highlighting the enormous scale of investment directed toward AI and the competition for capital across financial markets.

Attention now turns to the Federal Reserve’s policy announcement on Wednesday. Markets broadly expect interest rates to remain unchanged, leaving investors watching for signals about the central bank’s next steps.