Cardano founder Charles Hoskinson has outlined a bullish scenario for Bitcoin and the broader altcoin market, predicting Bitcoin could reach $250,000 by mid-2026. In a recent interview, Hoskinson stated that Bitcoin reaching its next all-time high would be the primary driver for a market-wide rally, benefiting altcoins including ADA. He emphasized a recurring "value rotation" pattern where capital flows from Bitcoin into altcoins after BTC establishes new highs, citing the 2021 bull run as a historical example where Bitcoin's rise to approximately $68,000 coincided with explosive gains in major altcoins.
However, Hoskinson cautioned that the current cycle may not unfold at the same pace as past rallies. While acknowledging Bitcoin's new highs would support altcoins, he noted the magnitude of these gains remains uncertain, as the cycle is still in its early stages.
This bullish sentiment is being mirrored by institutional action. According to data from Arkham, BitMine Immersion Technologies purchased $105 million worth of Ethereum (ETH) at the start of 2026, bringing its total ETH holdings to 4.07 million tokens valued at $12.6 billion. The company's chairman, Tom Lee, co-founder of Fundstrat Global Advisors, provided a nuanced outlook, predicting Ethereum could see a "meaningful drawdown" to around $1,800 in the first half of 2026 before presenting "attractive opportunities" later in the year.
BitMine's aggressive accumulation strategy extends beyond simple buying. Lookonchain data shows the company has staked over $2.87 billion worth of Ether, including 128,000 tokens added recently. This staking activity removes supply from the market and generates yield, creating a potential "double supply squeeze" that analysts believe could produce explosive price action across the entire smart contract sector.
The institutional move is seen as a major confidence signal for smart contract platforms like Cardano. Analysts suggest that when large entities like BitMine buy Ethereum at scale, capital flows into the entire ecosystem. The Cardano price prediction for 2026 has turned bullish, with ADA trading around $0.39 on January 9. Short-term models project ADA could reach $0.57 by February 2026, while end-of-year targets range from $1.20 to $3.25, depending on institutional capital flows. Some ultra-bullish forecasts even project a long-term ADA price of $4.50 if Cardano captures momentum similar to previous cycles.
Concurrently, the DeepSnitch AI project's presale has surpassed $1.14 million, delivering 120% returns to early buyers. The project, which provides AI-powered security and surveillance tools for blockchain, is positioned as infrastructure for institutional capital deployment. Its tools, including SnitchFeed, SnitchScan, and AuditSnitch, are designed to scan for major market moves, check smart contracts, and assess token safety. The presale is set to conclude on January 31, 2026, with CEX listings rumored to follow.
