Binance Hack, Bitcoin’s $1.6 Million Forecast, Elon Musk’s Emoji Clash and More: This Week in Crypto
Crypto markets spent the week balancing security concerns with increasingly ambitious Bitcoin forecasts. Analysts pointed to possible gains, while major incidents kept wallet safety and exchange risk in focus.The week also delivered sharp reminders that crypto security remains fragile, with Binance facing hack-related comparisons and Trezor warning customers about a suspected hardware implant.Binance Hack Sparks Exchange Comparison and Musk DisputeBinance founder Changpeng Zhao urged Elon Musk to stop trolling after Musk reacted with laughing emojis to concerns about the exchange’s reported hack losses. Musk posted "Everyday is Zeroday" as news of the incident emerged, then added fire and laughing emojis beneath Zhao’s warning about clicking suspicious email links. The episode drew comparisons with the collapse of FTX in 2022.Bitwise Raises Its Long-Term Bitcoin TargetAsset manager Bitwise projected that Bitcoin could climb to $1.6 million by 2036, potentially outperforming every major institutional asset class over the next decade. The firm lifted its long-term Bitcoin growth assumption to 34.3% from 28.3%. Its earlier $1.3 million projection targeted 2035, making the new forecast both higher and one year later.Galaxy Analyst Sees Accumulation Rather Than ExhaustionBitcoin traded near $77,000, with Galaxy Trading describing the market as firmly positioned in an accumulation zone. Analysts said buyers could later view current prices as an opportunity they missed. On the Galaxy Brains podcast, host Alex Thorn and analyst Beimnet Abebe said Bitcoin often bottoms around this stage of its four-year cycle. They also highlighted unusually low open interest, interpreting it as under-positioning rather than market exhaustion.Bond-Market Turmoil Could Push Bitcoin Toward $90,000Bitcoin could reach $90,000 by the end of 2026 as rising government debt, persistent inflation and a global bond-market selloff bolster its appeal as an alternative store of value. In an interview with Cointelegraph, 10x Research founder Markus Thielen said those conditions may encourage investors to reduce exposure to traditional fixed-income assets and consider Bitcoin instead.Trezor Issues Alert Over Suspected Device ImplantCryptocurrency wallet company Trezor warned customers about a suspected hardware implant found in a device sold by Malaysian reseller CryptoBilis, urging affected users to move their funds and follow security guidance. Trezor said on X that a customer made a responsible disclosure involving a single Safe 5 device purchased through CryptoBilis. The company described the report as involving one device while urging customers to take appropriate precautions.This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Preview Photo courtesy: Shutterstock