Bitcoin continues to trade below $80,000 as investors increasingly favor artificial intelligence investments over digital assets. Despite lower oil prices, easing rate-hike expectations, and a stronger stock market, cryptocurrencies have yet to regain upward momentum.

SoFi Crypto Accounts Exceed 500,000 Following Platform Relaunch

SoFi Technologies reported that its cryptocurrency platform surpassed 500,000 accounts within a year of restoring digital asset trading, according to its third-quarter results released Tuesday.

The company had 503,070 crypto accounts as of Sept. 30, following the relaunch of SoFi Crypto in late 2025. The service allows customers to purchase, sell, and hold cryptocurrencies alongside conventional banking and investment products.

Crypto trading produced $161.6 million in transaction revenue during the quarter. However, associated expenses totaled approximately $160 million, leaving just $1.63 million in net transaction revenue. For the first nine months of 2026, net crypto transaction revenue reached $3.67 million.

SoFi’s broader business delivered stronger results, with quarterly revenue increasing 44% year over year to $1.39 billion. Its shares jumped 11% in premarket trading after the earnings announcement.

Galaxy Digital Gains as Quarterly Profit Exceeds Expectations

Galaxy Digital posted better-than-expected third-quarter earnings, with Bitcoin’s performance during the period contributing to its results.

The company recorded $419 million in treasury and corporate profit, reversing a $42 million loss reported in the previous quarter.

Galaxy also authorized a fresh $200 million share repurchase program after completing its previous buyback. The company has repurchased around 9.8 million shares so far this year.

CEO Mike Novogratz said progress across Galaxy’s businesses was helping diversify its earnings and prepare the company for additional growth opportunities.

The company also reported that the second phase of its Helios I data center project is fully financed, under construction, and progressing on schedule. Meanwhile, negotiations with potential tenants for another 830 megawatts of capacity at Helios II are continuing as market conditions improve.

Galaxy shares rose 4.5% in premarket trading, although the stock remained down more than 30% over the past month.

Jason Calacanis Sees Bitcoin Falling to $57,000

Venture capitalist Jason Calacanis has renewed his bearish outlook on Bitcoin, predicting that its price could return to $57,000 within the next year.

In a post on X, Calacanis argued that investors have access to alternative opportunities with greater potential to generate value. He questioned Bitcoin’s usefulness beyond its role as a store of value and urged investors to consider artificial intelligence instead.

Calacanis later backed Bittensor (TAO), pointing to its focus on expanding AI capabilities. However, the token has also struggled, losing 25% over the past month and 38% over the previous year.

His latest prediction prompted criticism from social media users who highlighted his earlier bearish calls, which came when Bitcoin was trading at significantly lower levels.

Bitcoin Weakens as AI Funding Plans Draw Investor Attention

Bitcoin declined to approximately $79,750 early Tuesday, falling 0.6% over 24 hours before the U.S. stock market opened. Ether and Solana also moved lower, while XRP gained 1% after Ripple received final approval to establish its national trust bank in the United States.

The decline left Bitcoin down 2.5% over the previous week, despite easing expectations for Federal Reserve rate hikes and a retreat in oil prices from earlier highs.

Equities, by contrast, continued to strengthen. The Nasdaq gained more than 1% on Monday, while futures advanced another 0.4% on Tuesday.

Artificial intelligence is drawing fresh investment as major companies pursue ambitious funding plans. Meta announced a $95 billion capital raise, while Anthropic filed for an initial public offering, with reports indicating it could seek up to $100 billion.

The potential funding totals nearly $200 billion, illustrating the scale of capital flowing toward AI and the competition it creates for cryptocurrency investments.

Markets are now focused on the Federal Reserve’s policy announcement on Wednesday. Investors largely expect interest rates to remain unchanged, with the central bank’s forward guidance likely to influence sentiment across financial markets.