Bitcoin News Today: Bitcoin Pressures Mount as Gromen Flags Deflationary Risks to 2026 Money Printing Outlook

Analyst Luke Gromen has expressed skepticism about large-scale money printing in 2026, a view that contrasts with bullish forecasts from other market participants. His analysis points to elevated leverage across sectors and growing deflationary pressures, particularly from advancements in AI and robotics according to analysis. Gromen still holds a long-term bullish stance on Bitcoin, though he cautions that near-term price weakness is likely as equity valuations compress according to his analysis.

Bitcoin currently trades near $89,433, down roughly 4.4% over the past 12 months according to market data. Despite its status as the largest corporate holder of Bitcoin, Strategy recently paused its purchases after a three-week buying streak according to Barrons. This decision, coupled with a $748 million stock sale, has drawn attention from investors monitoring the company's capital allocation strategy according to reports.

The broader market is also showing mixed signals. Hyperscale Data, a company with a Bitcoin treasury exceeding 100% of its market capitalization, reported $50 million in cash and restricted cash as of December 19, 2025 according to the company's report.

The firm plans to use $30.5 million of that cash for future Bitcoin purchases, adhering to a disciplined dollar-cost averaging strategy according to company plans.

Why the Standoff Happened

Gromen argues that the current macroeconomic landscape lacks the conditions for large-scale money printing, which has historically supported asset prices. He highlights that the system is highly leveraged, and without expansive monetary policies, deflationary forces could dominate. These deflationary pressures, driven by AI and robotics, threaten to reduce the need for liquidity injections according to Gromen's analysis.

In a contrasting view, Arthur Hayes, a Bitcoin billionaire and founder of BitMex, predicts that the Federal Reserve's new Reserve Management Purchases (RMP) could mimic quantitative easing. Hayes likened RMP to QE, which historically supported Bitcoin and other assets by expanding the money supply according to his analysis. His optimism is based on the potential for RMP to boost Bitcoin prices, even as he acknowledges a sharp correction is likely before a new bull market emerges.

How Markets Reacted

BlackRock's IBIT Bitcoin ETF has become one of the three major investment themes for 2025, alongside Treasury bills and the Magnificent 7 tech stocks. The ETF has attracted over $25 billion in net inflows this year, despite a negative return. This demonstrates strong institutional interest in Bitcoin, even amid a challenging price environment according to Cointelegraph.

The ETF's performance is notable in a market where Bitcoin has lost about 30% from its October high. Despite this, the ETF continues to draw significant inflows, with some analysts suggesting it could see even more investment if market conditions improve according to Cointelegraph.

Meanwhile, companies like Hyperscale Data and Matador Technologies continue to build their Bitcoin treasuries through capital raising. Hyperscale Data has committed to a transparent reporting schedule, detailing its Bitcoin holdings and weekly purchases according to company announcement. Matador Technologies, for its part, recently secured regulatory approval for a $80 million base shelf prospectus to support its Bitcoin accumulation strategy according to Globenewswire.

What Analysts Are Watching

Analysts are closely monitoring how companies manage their Bitcoin treasuries, particularly as the market enters a new year. The Ether Machine, for instance, has adopted a yield-generating approach by staking its Ethereum holdings according to Decrypt. This strategy, which seeks to create returns through decentralized finance, highlights a shift from passive holding to active management of crypto assets according to Decrypt.

Jad Comair of Melanion Capital notes that 2026 is likely to become an "altcoin treasury year," as companies diversify their digital asset holdings beyond Bitcoin according to Decrypt. This trend could be driven by institutional-grade custody solutions and increased liquidity for alternative cryptocurrencies. However, he warns that consistency and conviction are critical for long-term success in this space according to Melanion Capital.

Fold Holdings, another player in the digital asset space, has outlined plans to launch a Bitcoin Rewards Credit Card in Q1 2026. The company also forecasts revenue growth to $38.02 million for FY2025 and $58.15 million for FY2026 according to investing.com. CEO Will Reeves emphasized the role of Bitcoin as the "nucleus" of the company's business model according to company statement.

Risks to the Outlook

Despite the growing interest in Bitcoin treasuries, risks remain. Arthur Hayes pointed out that a potential crisis could eventually prompt large-scale money printing, but current conditions do not support such policies according to his analysis. The Fed's RMP strategy is still being evaluated, and its impact on Bitcoin is uncertain.

Moreover, companies that have aggressively allocated capital to Bitcoin have faced criticism. Some analysts argue that these moves are speculative and may not align with core business strategies according to Decrypt. For instance, companies without a clear use case for Bitcoin may struggle with earnings volatility and liquidity risk according to Decrypt.

BlackRock's decision to file for a Staked Ethereum ETF further underscores the evolving landscape of digital assets. The firm has expanded its offerings beyond Bitcoin, signaling a broader acceptance of cryptocurrencies across asset classes according to Cointelegraph.

What This Means for Investors

For investors, the key takeaway is to remain cautious but not dismissive of Bitcoin's long-term potential. Luke Gromen's deflationary outlook suggests that Bitcoin may face near-term pressures, but its role as a liquidity layer in a leveraged system could see it rebound in the future according to Gromen's analysis. Arthur Hayes' bullish stance, on the other hand, is rooted in the potential for RMP to stimulate asset prices according to his analysis.

Investors should also consider the performance of Bitcoin ETFs like BlackRock's IBIT, which continues to attract inflows despite a negative return according to market data. These funds may provide a safer entry point for those bullish on Bitcoin but wary of direct exposure to the volatile cryptocurrency market.

Ultimately, the landscape for Bitcoin treasuries is evolving rapidly. Companies like Hyperscale Data and Matador Technologies are setting new benchmarks for capital allocation and transparency according to company reports. As 2026 unfolds, the interplay between macroeconomic forces, technological innovation, and corporate strategy will shape the future of Bitcoin and its role in the global financial system.