Bitcoin (BTC) should be trading higher in crypto’s transition year, says Keyrock CEO
Keyrock CEO Kevin de Patoul predicts Bitcoin's value is significantly undervalued at $72,332.39, hinting at potential growth in 2026 as the crypto market evolves.
Are you wondering where Bitcoin's price is headed in 2026? Keyrock CEO Kevin de Patoul has some intriguing insights that suggest Bitcoin might be undervalued and poised for significant shifts in the crypto market today.
What Does Kevin de Patoul Say About Bitcoin's Current Value?
According to de Patoul, Bitcoin should be trading much higher than around $72,332.39—which is where it was valued shortly before the update on March 4, 2026. He argues that despite the macroeconomic uncertainties and the increasing institutional adoption of cryptocurrency, BTC remains stuck in a pricing paradox: it’s still viewed as a risk-on asset rather than a risk-off hedge.
What Is Driving the Current Market Sentiment?
Year-to-date, Bitcoin is down approximately 18%, having reached an all-time high near $125,000 in early October of the previous year. De Patoul emphasizes that if one looks back at the developments from early 2025 to 2026—such as regulatory progress and institutional adoption—they would expect a price explosion, yet that hasn't been the case. “Increasing macro uncertainty should increase bitcoin demand, and yet it hasn’t,” he pointed out.
The market's behavior can be perplexing; while Bitcoin's capital was once viewed as ideological, it now appears more tactical. De Patoul explains, “If investors perceive it that way, then in periods of stress they reduce exposure.” This shift indicates a cautious take from investors regarding Bitcoin's role as a store of value.
What Trends Are Emerging in the Crypto Market?
Over the last six months, the performance of crypto assets has been lackluster, with Bitcoin drifting below previous highs. Trading volumes have decreased, volatility has compressed, and there hasn’t been the widespread rally experienced in prior cycles. De Patoul notes that “the parts that actually make sense are still being built,” especially as traditional finance starts moving on-chain.
This leads to a structural transition in the market. “We’re not issuing stablecoins or taking retail deposits, but we’re connected to everything and provide liquidity across all venues,” de Patoul stated, giving them a unique perspective on the evolution of digital assets.
Will 2026 Be a Year of Transition?
From Keyrock's point of view, 2026 feels less like a stagnant time and more like a rewiring of the financial ecosystem. De Patoul describes two distinct yet parallel markets: the crypto-native ecosystem, characterized by decentralized finance (DeFi) and altcoins, is currently subdued in sentiment. Conversely, the second market focuses on the digitization of traditional financial systems, including tokenized money market funds and stablecoins, which continue to thrive.
“When I speak to institutions, nothing has changed. The level of enthusiasm, the level of building, none of that drive has slowed,” he notes. The focus is less on Bitcoin’s price volatility and more on the fundamental upgrades to financial systems that crypto assets can provide.
What Does This Mean for Bitcoin Investors?
Investors might need to adjust their expectations and perceptions. With the crypto market today reflecting a structural transition rather than a breakout phase, the dynamics surrounding Bitcoin and other assets are evolving. As traditional finance taps into the crypto market more than ever, the true value of Bitcoin may finally emerge. Still, for those looking to capitalize on current opportunities, competitive rates can be found on major exchanges like Binance, Bybit, and Bitget.
- Bitcoin is currently valued below its potential, according to Keyrock CEO Kevin de Patoul.
- Despite the macroeconomic conditions favoring Bitcoin, it remains priced as a risk-on asset.
- The crypto market today is characterized by two parallel paths: subdued crypto-native opportunities and a growing digitization of traditional finance.
- Institutional interest in cryptocurrency remains strong, focusing on long-term infrastructure improvements rather than speculative trading.