Key Highlights

• ServiceNow (NOW) shares have declined approximately 32% year-to-date amid widespread SaaS sector pressure from AI disruption concerns
• CEO Bill McDermott reports that half of new business revenue originates from non-seat-based pricing models, including AI token consumption
• Benchmark launched coverage with a Buy recommendation and $125 price target, characterizing the decline as “unwarranted”
• McDermott demonstrated confidence by purchasing $3 million in NOW shares during February, describing it as an optimal entry opportunity
• Management projects 21% GAAP subscriber revenue expansion and identifies a $600 billion total addressable market opportunity

The shares of ServiceNow have experienced significant turbulence throughout 2026. With a decline of roughly 32% since the year began, the enterprise software provider has been swept up in a widespread retreat from SaaS investments that gained momentum in late 2025.

ServiceNow, Inc., NOW

What sparked the exodus? Rapid advancements in AI capabilities from companies such as Anthropic and OpenAI exceeded market expectations, triggering investor anxiety that AI laboratories might erode traditional enterprise software demand.

CEO Bill McDermott challenges this interpretation. He maintains that ServiceNow differs fundamentally from conventional SaaS providers and is proactively pivoting toward AI integration rather than retreating from the technological shift.

“We’re not a feature company and we’re not a function company, we’re a platform company,” McDermott explained. He highlighted the company’s AI Control Tower solution, which orchestrates and oversees AI agents, models, and operational workflows throughout enterprise infrastructures.

Among McDermott’s most significant revelations: half of ServiceNow’s incoming business revenue derives from pricing structures unrelated to user seats. This marks the company’s first public disclosure of this metric.

Transitioning Beyond Per-Seat Licensing

The conventional software revenue model — billing based on individual user licenses — faces mounting challenges as artificial intelligence diminishes dependency on workforce expansion. ServiceNow is adopting a blended approach where clients pay for both user licenses and consumption-based AI tokens.

The strategy is clear: as the platform executes more autonomous functions, organizations purchase additional tokens. This decouples revenue expansion from employee headcount metrics.

Goldman Sachs analyst Gabriela Borges maintains a 12-month price target of $216 for NOW. She anticipates upward revisions to organic growth projections throughout the year as clients exhaust complimentary AI token allocations and transition to paid consumption after validating business value.

“Those packages are going to start getting burnt through, such that customers are now going to come back to ServiceNow and say, ‘Hey, we proved the value of this particular product. We are now ready to pay for it,’” Borges explained.

McDermott reinforced his optimism through action. During February, he acquired $3 million in NOW shares using personal funds.

Strategic Acquisitions and Market Expansion

ServiceNow has maintained an aggressive acquisition strategy recently. Last December, the company revealed plans for a $7.75 billion acquisition of cybersecurity provider Armis. Additional purchases included AI identity security specialist Veza and a $2.85 billion investment in Moveworks, a platform focused on AI assistance and reasoning agents.

During the Q4 earnings discussion, McDermott directly confronted shareholder concerns regarding acquisition velocity, emphasizing that purchases target innovation capabilities rather than revenue supplementation.

These strategic moves position ServiceNow more prominently within cybersecurity and customer relationship management sectors. McDermott asserts these expansions elevate the addressable market opportunity to at least $600 billion, a substantial increase from the $90 billion estimate when he assumed leadership in 2019.

On April 1, Benchmark launched coverage featuring a Buy rating alongside a $125 price target. Analyst Yi Fu Lee characterized the sell-off motivated by AI displacement concerns as “unwarranted” and positioned NOW as a primary beneficiary of the “Agentic AI super cycle.”

Wall Street consensus maintains a Buy recommendation for the company. ServiceNow’s price-to-earnings multiple registered approximately 61 times trailing 12-month earnings as of Thursday’s trading session.

Solana price managed to hold above the $70 support on Thursday as bulls stepped in to defend the psychological level.

According to data from crypto.news, Solana (SOL) price fell nearly 9% from an intraday high of $85.1 on Wednesday to an intraday low of $77.6 on Tuesday before stabilizing at $80 at press time.

Solana price fell following a $285 million exploit that occurred yesterday on Drift Protocol, a trading venue native to the Solana blockchain. Following the breach, the total value locked on Solana has shrunk by nearly $1 billion since the incident, per DeFiLlama.

The token also fell amid tensions in the Middle East that continued to drive investor sentiment away from risk assets. Notably, Iranian officials noted they would be targeting retaliatory measures against 18 U.S. military assets, including strategic bases in the region. On the other hand, the U.S. struck several key targets, including a critical supply bridge and logistics hubs.

The resulting conflict has fueled expectations that the Strait of Hormuz would continue to remain closed as the U.S. focuses its attention on bringing the regional threat to a standstill over the coming 2 to 3 weeks. Oil prices rose back above $110 amid fears of runaway inflation and supply chain disruptions.

On the daily chart, Solana price is close to breaking out of a multi-month falling wedge pattern formed of two descending and converging trendlines. A breakout from a falling wedge pattern often signals a powerful bullish reversal as selling pressure finally exhausts itself.

For Solana, a confirmed breakout from such a pattern could fling the price all the way to $111, which aligns with the 23.6% Fibonacci retracement level. Reaching this target would represent a significant recovery from recent lows and could reignite broader investor interest in the ecosystem.

However, current technical data suggests some caution on the way. Notably, the Chaikin Money Flow index showed a negative reading of -0.05. A negative reading on the indicator suggests that there is still a lack of strong buying pressure and that some capital is still flowing out of the asset.

At the same time, the Aroon Down stood at 92.86% while the Aroon Up was at 35.71%, which means the bears still hold the upper hand in terms of trend strength. This disparity indicates that while a breakout is possible, the downward momentum has not yet been fully broken by the bulls.

Key Takeaways:

• Protocol Scope: X402 standardizes the HTTP 402 “Payment Required” response code to trigger stablecoin or ERC-20 token settlement directly inside web and API interactions.
• AI-First Design: The protocol is built explicitly for autonomous AI agents – machines can encounter a paywall, read the X402 response, and settle the payment via a pre-authorized wallet with no human intervention required.
• Neutral Governance: By housing X402 under the Linux Foundation, Coinbase has structurally prevented any single corporation – including itself – from controlling the web’s new financial rails.
• Layer-2 Integration: X402 is blockchain-agnostic but debuted on Base, Coinbase’s Layer-2 network, with Cloudflare’s Agents SDK already supporting live transactions on Base Sepolia testnet using USDC.
• Micropayments at Sub-Cent Cost: Stablecoin settlement delivers near-instant finality at sub-cent transaction fees – a cost structure that credit card networks and ACH cannot match for machine-to-machine commerce.
• What to Watch: Reference implementation and SDK releases scheduled throughout 2026 are the critical adoption milestones – browser-level integration and sign-off from traditional financial members will determine whether X402 becomes infrastructure or a footnote.

Key Takeaways:

• Revenue structure: 75% of WLFI net revenues flow to DT Marks DEFI LLC, a Trump family-linked entity, with no personal liability attached.
• Scale of extraction: The Trump family has collected at least $890 million in revenues and holds WLF tokens valued at $3.8 billion, with no evidence of personal capital investment.
• Foreign money: Justin Sun invested $75 million in WLFI tokens before his SEC fraud case was dropped; UAE-based Aqua 1 Foundation wired $100 million in stablecoins with unclear origins.
• Token performance: WLFI tokens are down 50% from all-time highs; Trump and Melania memecoins have collapsed 91% and 99% respectively.
• Banking expansion: On January 9, 2026, WLFI applied to the OCC for a national trust bank charter under World Liberty Trust Company, with Zach Witkoff listed as proposed president.
• Political exposure: House Democrats’ Anti-Crypto Corruption Week scrutiny is escalating, with the November 24 report naming obstruction of justice, foreign influence, and self-dealing as core allegations.

• Sales volume: Riot sold 3,778 BTC in Q1 2026, generating $289.5 million against quarterly production of just 1,473 BTC.
• Treasury drawdown: BTC holdings fell 18% quarter-over-quarter, from 18,005 to 15,680 BTC.
• Power cost improvement: All-in power cost dropped 21% year-over-year to 3.0¢/kWh, even as selling accelerated.
• Hash rate expansion: Deployed hash rate grew 26% to 42.5 EH/s, signaling infrastructure reinvestment over accumulation.
• Power credits: Riot generated $21.0 million in power credits during Q1-more than double the prior year period.
• Industry-wide selling: MARA Holdings, Genius Group, and Nakamoto Holdings sold a combined 15,501 BTC in the last week alone.

The U.S. employment market rebounded in a big way from February’s sizable losses.

According to a Friday morning release from the Bureau of Labor Statistics, the country added 178,000 jobs in March, after losing 133,000 positions the previous month. Economist forecasts had been for 60,000 jobs to have been added.

The unemployment rate fell to 4.3% versus 4.4% in February and expectations for 4.4%.

At least part of the beat was due to a sizable downward revision in the February data from an originally reported decline of 92,000.

Trading quietly near the $67,000 level in the hours ahead of the data, bitcoin BTC$67,097.67 remained there in the minutes just following the report.

Expectations about the future course of interest rates, of late, have been far more influenced by events in the Middle East and the price of crude oil than by the outlook for domestic economic growth.

As recently as last week, oil’s surging price had markets forecasting imminent rate hikes by the U.S. Federal Reserve. Speaking earlier this week, though, Fed Chairman Jerome Powell said the central bank recognized that oil price shocks — while initially making headline inflation numbers look worse — can depress economic activity. He indicated the Fed would be in no hurry to raise rates in response to short-term moves in the price of crude.

Bitcoin’s drawdown narrative is shifting from a pattern of extreme collapses to a more mature market dynamic, according to Cathie Wood, the founder and CEO of ARK Invest. In a CNBC appearance on Squawk Box dated April 1, Wood argued that the era of 85% or greater corrections may be behind BTC, framing the asset as a proven technology and monetary tool rather than a volatile tech experiment.

Speaking amid a price backdrop around the 69,000 level—the prior all-time high reached in 2021—Wood’s remarks come after a long bear market that wiped out roughly 80% of BTC’s value before a bottom near 15,600. On-chain data, however, suggest the current downturn has not yet mirrored the depth seen in prior cycles. Glassnode data indicate the bear market’s maximum drawdown from BTC’s peak remains well short of past extremes, around 52% from the record high of about 126,200 in October 2025.

Key takeaways

• ARK Invest’s Cathie Wood argues Bitcoin is past the era of 85%+ price collapses, framing BTC as a proven technology and monetary asset rather than a speculative fad.
• Analysts disagree on the next significant price level: a chartist forecast points to roughly $34,000 as a bottom (a 72% drawdown), while consensus from broader coverage points to a range of roughly $40,000 to $50,000.
• On-chain data show the bear market depth to date is shallower than in some previous cycles, with maximum drawdown around 52% from the all-time high, suggesting a potentially different extinction-like pattern for BTC.
• April seasonality and near-term momentum remain in focus: some analysts see historical patterns of spring recoveries during bear phases, while macro headlines and liquidity conditions continue to influence the path forward.

Wood’s view: BTC’s maturation and the new normal

Wood’s comments came during a dialogue about Bitcoin’s long-run narrative. She stressed that the 85–95% declines associated with earlier, less mature markets are unlikely to recur for Bitcoin, a narrative she frames as evidence of BTC’s transformation into a validated monetary system and a new asset class. The remarks echo her longstanding bullish stance on Bitcoin, which has been a hallmark of ARK’s research orientation toward disruptive technologies.

At the time of her appearance, Bitcoin was hovering near the post-2021 high watermark—an area that previously marked the transition into a multi-quarter bear cycle. Wood’s perspective contrasts with the more cautious or range-bound themes that have dominated much of the current trading backdrop, where macro conditions, policy signals, and sector rotation often determine day-to-day moves.

That said, Wood’s optimism sits alongside a chorus of caution from other analysts who note that the road ahead remains data-driven and uncertain—a reminder that even as BTC stabilizes, macro headwinds can quickly reassert themselves.

Forecasts diverge on the floor of the bear market

While Wood’s stance centers on BTC’s maturation, other voices point to specific downside scenarios. Tony Severino, a veteran market technician, floated a bottom near $34,000, implying a 72% drawdown from the peak. He summarized the trajectory in a post on X, suggesting that a decline to that level would mark a “max drawdown” consistent with a new phase for the asset.

Beyond Severino’s projection, broader market commentary remains split. A section of traders and analysts continues to anticipate a bottom in the higher $40,000s to low $50,000s, a range that Cointelegraph has cited in prior coverage as a common region for a generational floor rather than a catastrophic collapse. For some observers, the 40k–50k zone remains the anchor for a long-term re-rating of Bitcoin’s risk profile.

Meanwhile, Bloomberg Intelligence analyst Mike McGlone has warned that prices could be trending toward seven-year lows, underscoring the risk that macro developments—such as central-bank policy and global liquidity—could extend the bear phase even as on-chain metrics offer a more nuanced view of drawdown depth.

Seasonality, on-chain signals, and what to watch next

Seasonality has long been cited as a potential internal driver of Bitcoin’s price path. Timothy Peterson, a network economist and commentator, highlighted a pattern in which April historically functions as a turning point during bearish cycles. A chart he shared on X illustrates April as a potential inflection month in past bear phases, though whether that dynamic repeats remains contingent on broader market conditions.

March’s monthly close added a modest, 1.8% gain for BTC/USD, effectively ending a five-month losing streak. The move, while not dramatic, keeps the door open for a spring rebound, provided macro momentum aligns with technical and on-chain signals.

On-chain context adds another layer to the discussion. Glassnode’s analysis shows that the current bear market’s depth—though material—is not yet aligned with the most severe declines observed historically. The all-time high of roughly 126,200 in October 2025 has given way to a drawdown of about 52%, a figure that suggests the market could behave differently than in previous cycles if macro conditions stay supportive or liquidity improves.

For investors, this combination of on-chain resilience and mixed macro signals creates a nuanced backdrop. A Bitcoin trading environment shaped by a less severe drawdown yet ongoing external headwinds could translate into a more protracted consolidation rather than a sharp capitulation or a swift breakout. Observers will be watching for signs of sustained demand, improving liquidity in risk markets, and any shifts in policy that could alter the risk-reward calculus for crypto exposure.

As the calendar turns to April, market participants will parse a mix of seasonality whispers, data-driven cautions, and evolving macro narratives. The next several weeks could prove decisive in whether BTC resumes a broader uptrend, remains range-bound, or teeters on renewed volatility as external conditions shift.

This article synthesizes observations from multiple sources, including Cathie Wood’s CNBC discussion, on-chain data from Glassnode, and commentary from market analysts such as Tony Severino and Mike McGlone, as well as prior coverage from Cointelegraph on price floors and seasonality in Bitcoin’s bear markets. Investors should treat forecasts as probabilistic scenarios rather than certainties and remain mindful of the evolving macro landscape that continues to shape crypto markets.

Cartesi token soared over 100% to a 3-month high of $0.049 on Friday. Will the Layer 2 token edge higher over the coming sessions, or will it succumb to profit-taking?

According to data from crypto.news, Cartesi (CTSI) price rallied nearly 110% to $0.049 on Friday, reaching its highest level since November 2022.

The rally came in a high-volume trading environment. In the past 24 hours,  the daily trading volume of Cartesi rose 1,260%, suggesting a sharp rise in demand from traders that likely buoyed the token toward its highs today.

There are three main reasons why Cartesi price broke out today.

First, Cartesi’s Permissionless Refereed Tournament fraud-proof system is reportedly nearing the Stage 2 classification by L2BEAT. This milestone would rank it among the most secure and decentralized Layer 2 scaling solutions, setting it apart from competitors that still rely on permissioned validators.

Second, the project’s recent initiative to ship high-throughput applications reached critical implementation deadlines in April. Tangible developer interest in the Cartesi Machine, which allows decentralized apps to run on Linux, is finally translating from theoretical potential into live deployments.

Third, after months of trading in a narrow range of $0.02 to $0.025, the sudden break above long-term resistance triggered a volatility spike. This caused a short squeeze, forcing bearish traders to buy back their positions and further fueling the massive gains seen today.

On the daily chart, Cartesi price has broken out of a multi-month descending parallel channel pattern, a sign that bulls have finally gained control of the market. It has already attained the target level from the breakout, suggesting there could be some selloff on the horizon.

Such selloff risks also come as the relative strength index has crossed the overbought threshold. Crypto rallies often face some pullback when this metric hits an overbought state.

Additionally, the Chaikin Money Flow index showed a negative reading, a sign that investors have started to rotate capital or take profits at these higher levels.

Hence, the Cartesi token could likely retest its immediate support of $0.030 before its next leg higher.