Bloomberg Senior Analyst: Bitcoin Faces Risk of Falling to $50,000 in 2026

April 2nd: Anna, founder of Perena, posted on X noting that its USD, USD-J, and USD*-P products were unaffected by the Drift incident. However, the JLP Treasury managed by the Trade Neutral team was impacted, as it operates within the Drift protocol’s treasury. The team will communicate promptly upon receiving updates from partners.

April 2: Meteora said in an X post that its platform funds are secure, neither its functions nor its treasury are interacting with the Drift protocol, and its treasury has not been deployed to Drift or its integrated treasury.

On April 2nd, LookOnChain monitoring data shows trader HXiRSK purchased 91,891 SOL tokens seven months ago at an average price of $175, totaling $16.04 million. Following the Drift hack incident, he sold 47,401 SOL tokens for $3.98 million to limit losses. His total losses have now exceeded $4 million.

On April 2nd, Omer Goldberg—founder of Chaos Labs, Aave’s risk advisory firm—shared analysis showing Drift Protocol’s signing key holds significant authority with no time lock or delay mechanism in place. A week prior, Drift migrated to a new multisig account created by one signer of the original multisig. Notably, this signer did not add themselves to the new account, and the multisig configuration shifted to **2/5** (one former signer + four new signers). Additionally, community members have raised concerns: several core Drift team members departed last month, sparking questions about the protocol’s governance, key management, and risk control systems.

April 2nd — Coinbase Chief Legal Officer Paul Grewal told “Mornings with Maria” that the CLARITY Act is “very close” to a deal on stablecoin yields. “We’re very close to a deal,” Grewal said. “All parties recognize how critical yield is, but other key bill provisions are also vital to advancing Trump’s vision of ‘making America the world’s cryptocurrency capital.’ We’re targeting a Senate Banking Committee hearing as soon as the coming weeks, with an eye toward a full floor vote eventually.”

**Bitcoin Drops 52% From Oct 2025 Peak; Death Cross Signal Active 30 Days, Alicharts Reports** April 2nd — Analyst Alicharts says Bitcoin has fallen 52% from its October 2025 all-time high, with a 3-day Simple Moving Average (SMA) cross signal (a death cross of the 50-period and 200-period SMAs) emerging on February 27th. The signal has now persisted for 30 days, and historical patterns point to a final accumulation window within the next 3–6 days or this cycle. Alicharts adds that in every major Bitcoin cycle since 2014, the 50/200 SMA cross has marked an absolute bottom and a golden buying opportunity. Past cycles show a final 40–52% drop occurs 23–33 days after the cross, wrapping up the bear market shakeout. This cycle’s potential shakeout target ranges from $30,000 to $40,000, with the next bull market set to follow.