Bitcoin Could See Another Decline, Core Scientific's Mining Exit and More: This Week in Crypto
Bitcoin faced competing narratives this week: some analysts saw an exhausted selloff and a potential rebound, while others warned that another decline could arrive before year-end.Elsewhere, Core Scientific prepared to leave Bitcoin mining, Peter Schiff questioned Ethereum’s valuation and analyst Willy Woo noted Bitcoin’s resilience despite a multibillion-dollar Binance hack.Mark Moss Sees Bitcoin’s ‘Best Buying Opportunity Ever‘Investor Mark Moss said Bitcoin has likely reached its bottom, describing current prices as the "best buying opportunity ever." Moss pointed to seller exhaustion as a sign that the market could be preparing for a rebound. However, he maintained his long-standing view that "crypto is dead," creating a striking contrast between his short-term Bitcoin outlook and broader cryptocurrency skepticism.Bitcoin, Ethereum and XRP Could See Another DeclineBitcoin may experience one final move lower toward $73,400 to $74,500 before reversing, according to analysts assessing whether the recent crypto selloff is close to ending. Franklin Templeton’s chief investment officer Seth Ginns cited improving market fundamentals and heightened investor fear as encouraging developments. Crypto analyst CryptoInsightUK, meanwhile, expects one last liquidity sweep before a longer recovery begins.Core Scientific Prepares to Leave Bitcoin MiningCore Scientific Inc. said it plans to end Bitcoin mining entirely by year-end and transform into a pure-play high-density colocation provider serving artificial intelligence and high-performance computing. During the company’s earnings call, Chief Financial Officer Jim Nygaard said Core Scientific continued reducing its mining activity during the third quarter. The company had nearly half as many miners operating at the end of September as it did at year-end 2025.Peter Schiff Questions Future Demand for MemecoinsEconomist Peter Schiff said Ethereum has "some value," though he argued that its value is below what the current price suggests. In a phone interview with Benzinga, Schiff said Ethereum "obviously has the use case" and allows users to generate yields through staking. His remarks came as he discussed Ethereum, Bitcoin and the broader appeal of Dogecoin and other memecoins.Bitcoin Outperformed Gold Despite the Binance HackCryptocurrency analyst Willy Woo said Bitcoin held up better than expected after the massive Binance hack unsettled the digital-asset industry. Bitcoin was down 2.4% over the week as of the report, compared with a 2.70% decline for spot gold. Woo described Bitcoin’s performance as "incredible" given the incident’s reported $6.3 billion scale.This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Preview Photo courtesy: Shutterstock.com