Stifel: Bitcoin price may fall to around $38,000
PANews reported on February 5th that, according to CoinDesk, analysts at financial services firm Stifel predict that the price of Bitcoin may fall to around $38,000. This prediction is based on a long-term trend line connecting the lows of Bitcoin's major bear markets since 2010, which currently points to around $38,000. The analyst team stated in their report that the relationship between Bitcoin and the US dollar and the global money supply has reversed since 2025. Previously, Bitcoin typically rose when the US dollar weakened and global liquidity increased, exhibiting an "inverse relationship" with fiat currencies; however, its price movement has now shifted to a positive correlation with the US dollar and an increasing correlation with the Nasdaq index and growth stocks. The report points out that although the Federal Reserve cut interest rates in its last three meetings in 2025, its stance remains hawkish, and the rising borrowing costs for technology companies could lead to tighter financial conditions, further pressuring the Bitcoin market.
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BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more