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After a disappointing 2025 for Bitcoin and crypto, the big question is will 2026 be better or worse?
In this Unchained podcast episode, Galaxy Digital Research chief Alex Thorn and Messari analyst Ryan Graham offer their 2026 outlook for Bitcoin and the broader crypto market, suggesting that the market faces “countervailing forces.”
Meanwhile, is Ethereum building for a future that may never come?
Plus, why killer apps alone are not enough and did Polymarket and Kalshi make a mistake by jumping into sports betting?
Guests:
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- Ryan Graham, Research Analyst at Messari
- Alex Thorn, Head of Firmwide Research at Galaxy Digital
- Previous appearances on Unchained:
Links:
- Unchained:
- DAT Stocks Are on Sale. Are They a Buy? Plus, Why Crypto Is Dead
- Ethereum’s Vitalik Buterin Says Blockchain Trilemma ‘Has Been Solved’
- Solana Withstands Week-Long DDoS Attack
- Solana Mulls Proposal to Lower Inflation Rate
- Western Union Files ‘WUUSD’ Trademark After Solana Stablecoin Reveal
- Why the Privacy Coins Mania Is Much More Than Price Action
- The Chopping Block: Hyperliquid vs. Tarun, ADL Transparency & The Coming Perps Arms Race
- How to Trade Prediction Markets Without an Opinion on the Event
- Why Wall Street Banks Need to Launch Their Own Stablecoins
- How the GENIUS Act Creates a Built-In Advantage for Banks and Deposit Tokens
- Klarna Launches Stablecoin Built on Stripe’s Tempo Chain
- How the x402 Standard Is Enabling AI Agents to Pay Each Other

