Kraken IPO and M&A Deals to Fuel Crypto’s Mid-Stage Cycle in 2026

TLDR

• Kraken’s potential IPO and M&As are seen as catalysts for the crypto market’s mid-stage cycle.
• Bitcoin’s recent price drop hasn’t deterred some investors, with the market predicted to rebound in 2026.
• Dan Tapiero of 50T Funds believes the crypto market remains in its “mid-stage” despite volatility.
• Fidelity’s Jurrien Timmer expects a downturn for Bitcoin in 2026, forecasting a local bottom around $65,000.

Kraken, one of the leading cryptocurrency exchanges, is preparing for an initial public offering (IPO) in 2026. This move is expected to attract traditional financial (TradFi) investors, which could inject new capital into the cryptocurrency market. The IPO follows Kraken’s successful funding round, where it raised $800 million, bringing its valuation to $20 billion.

Dan Tapiero, the founder and CEO of 50T Funds, believes Kraken’s IPO could act as a catalyst for the broader market. Tapiero suggested that the ongoing Bitcoin bull market is still in its “mid-stage” and that the potential IPO, combined with increased mergers and acquisitions (M&A) activity in the crypto space, could boost investor confidence. This influx of capital from traditional finance players could further stabilize the market and attract new investors.

M&A Deals Strengthen Market Outlook

In addition to Kraken’s IPO, the cryptocurrency industry is also seeing increased merger and acquisition (M&A) activity. As the industry matures, larger players in the market are increasingly acquiring smaller companies to consolidate their positions and expand their reach. This trend is expected to continue, providing further stability and growth opportunities for the sector.

Tapiero suggests that M&A deals could play a critical role in propelling the industry forward. These deals may create more synergies between different crypto companies and enhance the overall market infrastructure. As a result, the market may experience a period of consolidation that strengthens the industry’s foundations and sets the stage for sustained growth in the future.

Diverging Opinions on Bitcoin’s 2026 Outlook

While many in the crypto industry remain optimistic about the future, there are differing views on Bitcoin’s performance in 2026. Jurrien Timmer, Director of Global Macroeconomic Research at Fidelity, predicts a potential downside for Bitcoin next year. Timmer believes that 2026 may be a year of correction, with Bitcoin’s price possibly falling to a local bottom of around $65,000.

Timmer’s outlook contrasts with that of Tapiero, who remains confident in Bitcoin’s long-term trajectory. Tapiero sees the current market as still in its “mid-stage” bull cycle. According to Tapiero, the pullback in Bitcoin’s price after its October 2025 all-time high of over $126,000 does not signal the end of the bull market. Instead, he views it as a natural market correction, which could lead to new highs as more capital enters the market.

Market Forces Drive Long-Term Trend

While some analysts anticipate a pullback, others believe that global economic forces, including liquidity levels and sovereign adoption, will continue to drive the cryptocurrency market. Jimmy Xue, co-founder and COO of Axis, an on-chain quantitative yield platform, pointed out that Bitcoin’s price cycles have shifted away from the traditional four-year halving schedule. He believes the market is now influenced more by macroeconomic factors, which could result in a longer-term “super-cycle.”

Xue’s view emphasizes that, despite short-term volatility, the broader trend for Bitcoin and the cryptocurrency market could remain positive if global liquidity continues to loosen. In this scenario, Bitcoin’s price support at $65,000 to $75,000 could act as a foundation for further growth in the coming years.

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