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Critical Pi Network (PI) Update, Ripple (XRP) Price Crash, and Altcoins in Danger: Bits Recap May 28

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The past 24 hours were very eventful, especially in the altcoin scene, which saw many cryptocurrencies plummet amid a weakening broader market and escalating military tensions in Iran.

As CryptoPotato reported, the US struck down Iranian drones, and Iran retaliated by striking a US base in Kuwait. All in all, the ceasefire has been openly breached and put in question, resulting in turmoil across both legacy and crypto markets.

Let’s have a look at some important events concerning Pi Network, Ripple’s XRP, and a few other altcoins that took place very recently.

Critical Pi Network Update: Here’s What You Need to Know

According to an official post from yesterday, the underlying blockchain protocol behind Pi Network is currently undergoing an upgrade. This means that every single node running on the mainnet has to upgrade to v24.

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The deadline for this is June 2nd, 2026. The developers also recommend that operators shouldn’t upgrade all of their nodes at once, and to divert traffic during the process to other nodes.

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Per the provided documentation, the upgrade itself should be very quick.

“Internal data migrations are quick. Expected downtime is less than 15 minutes.”

It’s worth noting, though, that nodes that fail to upgrade risk being disconnected from the canonical chain, which could cause broader network instability.

Ripple’s XRP Tumbles 3.5%

The entire crypto sector is down today, and XRP is no exception. The altcoin plunged by 3.5%, dropping below $1.27 before recovering slightly.

XRPUSDT_2026-05-28_11-31-13
Source: TradingView

There is no local catalyst for the move, and it follows the broader market very closely. It’s also worth noting that the trading volume increased considerably during the downturn. It’s up more than 42% over the past 24 hours, at $2.44 billion.

On the other hand, fundamentals associated with the XRP Ledger are seemingly improving, with new proposals aiming to augment the way pools are deployed already underway. The idea is to give more flexibility to pool deployers and developers that would better correspond to the constantly shifting market conditions.

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Altcoins Stress Test: US Gov’t About to Dump?

Last but not least for this recap, Arkham Intelligence flagged an on-chain move associated with holdings of the US Government.

“The US Government just moved $1.9 million of Alameda funds. The USG seized $13 million of Alameda’s assets from Binance over 3 years ago. They just moved $1.89M of RNDR, UNI, SAND, MASK, and AXS to Coinbase Prime. Are they about to sell the seized funds?”

It’s worth noting that the size is not considerable, and most of the mentioned altcoins do have market depth to absorb any potential sales. However, investors might think of any disposals as a show of no confidence, which could lead to subsequent negativity. Time will tell.

The post Critical Pi Network (PI) Update, Ripple (XRP) Price Crash, and Altcoins in Danger: Bits Recap May 28 appeared first on CryptoPotato.

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Bitcoin OGs Are Converting Crypto Gains Into Armored Vehicles and Bunkers

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Bitcoin OGs Are Converting Crypto Gains Into Armored Vehicles and Bunkers

Bitcoin News: Marathon Digital Holdings disclosed $869,160 in vehicle armoring expenses for its CEO and CFO in its latest DEF14A proxy filing, $430,780 for CEO Fred Thiel and $438,380 for CFO Salman Khan, bringing Thiel’s total personal security bill to $4.3 million and Khan’s to $3.9 million for the year.

That is not a rounding error in an executive comp table. It is a formal corporate acknowledgment that holding large, publicly disclosed Bitcoin positions now requires the same physical threat mitigation as moving cash through a war zone.

Photo: Peter Thiel

MARA’s disclosure sits at the visible tip of a broader capital allocation shift among Bitcoin OGs and crypto whales who have spent the last two years converting paper gains into hardened physical infrastructure. Armored vehicles are the entry point.

The full picture extends to underground Bitcoin bunkers, off-grid sovereign compounds, what the community has long called Bitcoin citadels, second passports, and jurisdictional diversification plays that would have looked paranoid in 2020 and look rational in 2025.

Discover: The Best Token Presales

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Bitcoin News: Cypherpunk Roots, The Ideology That Made Doomsday Prepping Respectable

The cypherpunk movement never treated financial privacy and physical self-sovereignty as separate problems.

The same mailing list culture that seeded Bitcoin’s intellectual foundations in the 1990s was openly skeptical of state institutions, central banking, and the durability of fiat systems. Satoshi’s whitepaper dropped in October 2008, weeks after Lehman collapsed, and the timing was not coincidental.

The earliest Bitcointalk forum threads mixed price speculation with explicit discussions of fiat collapse scenarios, jurisdictional escape, and the practical logistics of holding wealth outside the banking system.

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That ideological substrate never went away. It just got better funded. Balaji Srinivasan, the former Coinbase CTO and one of the most prominent Bitcoin preppers in the ecosystem, formalized the framework in The Network State (2022), framing Bitcoin as cloud money for exit and advocating for physical startup cities and parallel societies as hedges against state failure.

The network state concept is essentially cypherpunk political theory with a real estate budget attached.

The OG survivalist impulse also produced the citadel meme, a recurring Bitcointalk fantasy from the early 2010s imagining walled compounds where early holders retreat once fiat collapses and Bitcoin becomes the only functioning monetary network.

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What read as fringe forum fiction then is now showing up in corporate proxy filings and luxury bunker waitlists. The narrative event happened years ago. The execution events are happening now.

From Armored SUVs to Sovereign Compounds: The Full Spending Picture

MARA’s $869,160 vehicle armoring spend is structurally notable precisely because it appears in a DEF14A, a document with legal standing, audited figures, and shareholder visibility.

The board’s justification was explicit: Bitcoin and Ethereum’s instant, anonymous transfer capabilities mean coerced credential handover can drain holdings in seconds with no recovery path, a threat profile that differs materially from executives at most traditional public companies. That logic applies equally to any individual holding a significant self-custodied BTC position.

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Coinbase provides the comparison point at the higher end. The exchange paid CEO Brian Armstrong $7.6 million in personal-security-related compensation last year, covering home security, executive protection, family protection, and secure transportation.

Between MARA and Coinbase alone, two public crypto companies have disclosed over $16 million in executive physical security spending in a single reporting cycle. That is not a coincidence, it is an industry-wide risk reassessment made visible through disclosure requirements.

Below the public company disclosure layer, the private spending is harder to quantify but directionally consistent. The doomsday prepping market for ultra-high-net-worth buyers, anchored by operators like Survival Condo, Oppidum, and Vivos, has marketed fortified underground residences ranging from individual suites to full compounds with pools, cinemas, and staff quarters.

Vivos founder Robert Vicino has described demand being driven by fears of geopolitical conflict, domestic instability, EMP disruption, and nuclear scenarios.

Armored vehicles and underground Bitcoin bunkers are frequently sold as a single security package by these operators; the tactical vehicle market, which CBC once described as looking like variations of the Batmobile, is explicitly paired with subterranean real estate.

For Bitcoin OGs sitting on positions acquired at sub-$1,000 cost basis, spending 1–3% of their stack on physical resilience infrastructure passes a straightforward expected-value calculation. If nothing bad happens, they own a well-equipped rural property.

If the scenarios they believed in when they bought Bitcoin actually materialize, that infrastructure cost looks cheap. The Forbes Digital Assets framing from February 2026 captures the logic precisely: gold is for conflict, Bitcoin is for escape, and armored vehicles are for the transition between the two states.

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As BTC, ETH prices gain, derivatives signal skepticism over a sustained rally

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As BTC, ETH prices gain, derivatives signal skepticism over a sustained rally

Bitcoin has risen 1.4% since midnight UTC, catching a tailwind as hopes for an Iran-U.S. deal sent oil prices lower. The move provided a lift to major altcoins, with ether (ETH) adding 2.4% and solana (SOL) and BNB advancing about 1.5%. XRP lagged with a 0.7% gain.

Despite the green shoots among the majors, the broader market has yet to follow suit. The CoinDesk 20 Index (CD20) remains slightly lower over 24 hours. Still, smaller outliers like DEXE and BEAT jumped of 8% and 5%.

Monday’s bounce, however, is being met with heavy skepticism from some analysts, particularly when comparing bitcoin’s price with its simple moving average (SMA).

“BTC has clawed back to $64K but nothing behind it. The 200-week SMA near $62.2K held the weekend dips, and that line with the $60K shelf is what separates a base from a deeper leg, while $66K to $68K caps the upside,” analysts at Marx said in an email.

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“We buy near the 200 week and sell into resistance, we do not chase the middle,” they added.

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Bitcoin Supply Crunch? OTC Balances Drop by 400,000 BTC Since 2022

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Bitcoin liquidity in the over-the-counter (OTC) market continues to decline as the BTC OTC balance has fallen steadily since 2022.

Fresh data now suggests that the figure has reached its lowest level on record.

OTC Holdings Plunge

According to the latest report by CryptoQuant, large investors have continued accumulating Bitcoin even as available balances in the OTC market keep shrinking. Historically, OTC balances tend to rise toward the end of a bull market, but the current cycle has followed a different path. In fact, balances have continued to move lower instead of increasing.

CryptoQuant said the amount of Bitcoin held in the OTC market has dropped by around 400,000 BTC after falling from 550,000 BTC to 150,000 BTC while whale buying has persisted. The analytics firm stated that this market cycle differs from previous ones, as whale accumulation has lasted longer and the pace of balance growth during the bull market has been weaker than in earlier cycles.

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It said that a stronger market rally may begin once whale accumulation ends. Until then, the record-low OTC balance indicates that accumulation remains strong while liquidity continues to tighten.

Deeper Reset?

Meanwhile, another on-chain signal tracked by CryptoQuant suggests that Bitcoin has yet to enter a strong recovery phase. The firm’s adjusted Spent Output Profit Ratio (aSOPR) remains below the crucial level of 1, which means that investors are still spending coins at a loss rather than in profit.

The 30-day average has also failed to reclaim this threshold as demand is not yet strong enough to absorb selling pressure. In previous instances, steady recoveries have tended to begin only after SOPR moves above 1 and holds that level as support.

Long-term investors are taking significantly smaller profits than they did during previous market peaks, as highlighted by the declining Long-Term Holder SOPR. If this trend continues, the market could move closer to the deeper reset phases that have historically appeared near major Bitcoin bottoms.

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Despite these weak signals, Michael Saylor-led Strategy disclosed the purchase of 520 BTC for $35 million. Following the latest acquisition, the firm increased its holdings to 847,363 BTC.

The post Bitcoin Supply Crunch? OTC Balances Drop by 400,000 BTC Since 2022 appeared first on CryptoPotato.

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What does the UK’s PM-in-waiting Andy Burnham think about crypto?

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What does the UK’s PM-in-waiting Andy Burnham think about crypto?

UK Prime Minister Sir Kier Starmer has today announced that he’s to step down as leader of the Labour party, triggering a leadership contest that will likely result in the former Mayor of Greater Manchester and member of Parliament for Makerfield Andy Burnham being handed the keys to 10 Downing Street.

Burnham won a key local election last week in the Makerfield constituency, a victory perceived to be an indicator of public appetite for his role as Labour leader.

But what does Burnham know about crypto?

Burnham attended a crypto event in Manchester in 2024 that was hosted by local crypto group Manchester Blockchain Alliance and Coinbase-backed crypto lobbying firm Stand With Crypto.

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In a nine-minute speech, he spoke about the importance of expanding the digital sector in the city, the benefits of crypto’s tendency to “disrupt,” and how young people need to be able to see the job opportunities crypto can provide.

Andy Burnham talking about crypto and opportunities the web3 sector can provide for Manchester.

Read more: Russia offered crypto to firebomb Sir Keir Starmer’s home, report

He said that Manchester could become a “web3 powerhouse,” and that when it comes to marrying economic progress with social progress, “web3 could be the democratisation of it all.”

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Despite noting that his understanding of crypto is “rudimentary,” he said, “I’m in, I’m bought in, I love the sound of it.”

Stand With Crypto has its own crypto position checkers for politicians and claims that both Burnham and Starmer have “no stance” on crypto. This is despite their public statements on the sector. 

Farage still dogged by billionaire backing scandal

Burnham has already found himself embroiled in the controversy surrounding Nigel Farage’s £5 million gift from billionaire Tether investor Christopher Harborne.

Indeed, in a now deleted post, Farage used AI to depict immigrants in a dinghy holding placards in support of Burnham. Farage claimed Burnham acted “for them.” 

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In response, Burnham noted that Farage was “getting desperate,” and said, “Maybe keep your crypto millions for something else.”

Andy Burnham’s response to Farage.

Read more: Nigel Farage accused of undervaluing Christopher Harborne jet loan by $666K

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Days before this comment, Burnham also said that “the crypto money is kicking in” when responding to a user that claimed their social media feed was negatively geared against him because “power brokers are clearly paying the big bucks to keep [Burnham] out.”

Burnham’s comments were made one month after Farage was revealed to have accepted £5 million ($6.6 million) from Harborne. 

Farage kept the sum a secret and maintains that it didn’t have to be declared as it was a personal gift for security and helping to deliver Brexit. 

Harborne has donated over £25 million ($33 million) to Reform UK. These donations were partly why the UK, under Starmer’s leadership, introduced a cap on political donations from overseas donors in March. 

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Burnham thinks cap on donations is right

Burnham told Byline Times that he would welcome a cap, noting that he would’ve started higher than the £100,000 ($132,000) cap currently set and reduce it over time. 

He said a cap would help stop the “perception of any one party being unduly influenced or swayed by one person or organisation.”

Alongside this donation cap, the UK also introduced a temporary ban on political crypto donations until UK regulation catches up.

The most recent crypto regulations came from the Bank of England today. The bank relaxed its proposed stablecoin regulation, dropping plans to cap the amount an individual can hold and instead introducing a £40 billion ($53 billion) issuance limit for each stablecoin.

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Alphabet (GOOGL) Stock Plunges 6% as AI Talent Exodus Continues to OpenAI and Anthropic

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GOOGL Stock Card

Key Takeaways

  • Alphabet shares declined approximately 6% Monday, reaching $343.30 during morning hours
  • Noam Shazeer, Google VP and Gemini AI co-lead, is departing for OpenAI
  • John Jumper, Nobel laureate and AlphaFold creator, is leaving Google DeepMind for Anthropic
  • California court rejected Google’s motion for a new trial in youth addiction lawsuit
  • Analysts maintain Strong Buy rating with average target price of $427.38

Alphabet shares tumbled approximately 6% during Monday’s trading session, settling at $343.30 in morning activity, as the tech giant confronted multiple adverse developments simultaneously. The decline deepened to 7% at certain points throughout the day, erasing roughly $250 billion from the company’s market valuation.


GOOGL Stock Card
Alphabet Inc., GOOGL

The most significant impact stemmed from consecutive announcements of prominent AI researchers joining competing organizations.

Noam Shazeer, holding the position of VP of Engineering at Google and serving as co-lead for the Gemini AI platform, revealed his decision to transition to OpenAI. The company had invested approximately $2.7 billion to recruit Shazeer back from Character.AI barely two years prior.

Shortly afterward, John Jumper, a Nobel Prize recipient and senior research scientist at Google DeepMind who co-developed AlphaFold, announced his move to Anthropic following nearly a decade at Google.

AlphaFold successfully predicted structural configurations for more than 200 million proteins, representing a transformative achievement with significant ramifications for medical research and biological sciences. The departure of the scientist responsible for this innovation — to a competing firm — carries substantial weight.

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These consecutive departures sparked renewed debate about whether Google is falling behind in the artificial intelligence competition. Several market observers cautioned that the performance differential between Gemini and cutting-edge models from OpenAI and Anthropic might be widening.

Mounting Legal Challenges Compound Investor Concerns

In legal developments, a California court rejected Google and YouTube’s request for a retrial following a jury verdict determining their platforms were intentionally designed to create addictive behavior in minor users. This decision exposes Alphabet to financial liabilities and potential similar legal actions.

The United Kingdom’s proposed prohibition on social media access for individuals under 16, combined with enhanced chatbot regulations, introduces additional uncertainty for YouTube’s younger demographic and associated advertising income.

Market participants are also scrutinizing Alphabet’s financial position. The corporation recently executed an $84.75 billion equity offering, prompting speculation about potential suspension of share repurchase programs. Its projected capital expenditures for 2026 range between $180–$190 billion, a threshold anticipated to squeeze free cash flow profitability.

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Market Conditions Offered Little Relief

The Nasdaq Composite declined 1.1% while the S&P 500 decreased 0.4% Monday, yet Alphabet’s losses significantly exceeded these benchmark indices. This disparity indicates company-specific challenges rather than general technology sector weakness.

GOOGL currently trades substantially beneath its 52-week peak of $408.61. The stock has surrendered considerable appreciation accumulated from its 52-week bottom of $162.

Important perspective: Alphabet’s Google Cloud division maintains expansion momentum, with its committed contract backlog exceeding annual revenue figures. Core business fundamentals remain intact.

Social media discussion contributed to selling pressure. Citrini Research published analysis on X suggesting hyperscale cloud providers might issue more than twice current projected debt levels during 2027–2028 to finance AI infrastructure — including processors, computing facilities and related equipment. This assessment unsettled investors already concerned about AI capital deployment exceeding financial returns.

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Notwithstanding Monday’s selloff, Wall Street analysts haven’t abandoned their bullish stance. The consensus rating on GOOGL stands at Strong Buy, supported by 28 Buy recommendations and five Hold ratings issued during the previous three months. The mean price objective reaches $427.38, suggesting approximately 23% appreciation potential from present trading levels.

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talent exodus sparks fresh debate over foundation leadership

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talent exodus sparks fresh debate over foundation leadership

The departures also come as the foundation has unveiled a new strategic framework known as “CROPS,” an acronym standing for cypherpunk values, resilience, open-source development, permissionlessness and security. Foundation leaders presented the framework as a way to clarify the EF’s mission and reinforce Ethereum’s core values as the ecosystem becomes increasingly decentralized. Supporters viewed it as a reaffirmation of Ethereum’s founding principles, while critics argued it did little to address concerns about execution, organizational effectiveness and the network’s competitive position.

Among the most vocal critics was former Ethereum researcher Dankrad Feist, who suggested the recent spate of executive departures reflected deeper management issues rather than disagreements over strategy.

“The people who are leaving the Ethereum Foundation are CROPS believers,” Feist wrote on X. “The problem isn’t with the strategy, it’s with management.”

Feist’s comments were notable because they challenged the prevailing idea that recent departures stemmed from dissatisfaction with the foundation’s new direction. Instead, he argued that many of those leaving supported the CROPS vision itself, making the loss of talent a reflection of leadership shortcomings rather than ideological disagreements. “The exodus of talent is truly bearish for Ethereum, sadly,” he added.

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Other community members echoed concerns about the Foundation’s internal dynamics. “It makes me sad to see the dysfunction at the Ethereum Foundation,” head of engineering at Coinbase Yuga Cohler wrote on X.

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Mark Zuckerberg META AI Predicts Surprising Bitcoin Price by End of 2026

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Mark Zuckerberg META AI Predicts Surprising Bitcoin Price by End of 2026

Mark Zuckerberg Meta AI just put a predicts on Bitcoin price prediction that should turn heads. The model sees a path to $150,000 by the end of 2026, and it is not pulling that figure out of thin air.

The bull case leans hard on the calendar. Bitcoin sits near $64,000 right now, and the 4 year halving cycle has historically lined up with major rallies into Q4 of the following year.

New supply just got cut in half, which means less coin hitting the market every single day.

Add in ETF flows pushing toward $250 billion in assets once outflows finally turn positive, plus the CLARITY Act working its way through Washington, and you get a setup that big money actually wants to lean into.

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Source: META AI Bitcoin Price Prediction

Advisers are still holding over 150,000 BTC and barely trimmed positions during a stretch of record outflows, which tells you conviction has not cracked.

Throw in expected Fed rate cuts and more corporate treasuries stacking bitcoin, and the macro backdrop starts looking like fuel rather than friction.

Wall Street is not shy about the upside either, with Galaxy Digital calling for $200,000, JPMorgan near $170,000, and Bernstein matching the $150,000 base case, all of which would mark gains well over 100% from current levels.

Bitcoin (BTC)
24h7d30d1yAll time

The bear case is not nothing though. If ETF outflows keep draining and risk appetite dries up across markets, a break below $60,000 could open the door to $50,000 or even $58,000. That would sting anyone who jumped in expecting a straight line higher.

Still, on chain activity just flipped into a bull phase, and long term holders are not selling, which keeps the floor from feeling shaky.

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Bitcoin Price Prediction: BTC Eyes A Six Figure Reset Before The Next Leg Up

Looking at the weekly chart, bitcoin is sitting at $64,548 after bouncing off a multi month base.

Price carved out a clear double top near $128,000 earlier this year before rolling over hard into the low $60,000 zone.

That pullback looks like a healthy reset inside a longer uptrend rather than a trend reversal. Key support sits around $60,000, with deeper cushion near $50,000 if sellers push harder.

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On the resistance side, $80,000 is the first wall, then $100,000, then the prior high near $128,000. RSI is reading 37.25 against a signal line of 40.88, so momentum is sitting below its own average and leaning soft for now.

That small gap suggests sellers still have a slight edge in the short term, though RSI is nowhere near oversold extremes that would signal panic.

Momentum overall looks neutral to cautious, which fits a market catching its breath before its next decision. If bitcoin reclaims $80,000 and flips it into support, that six figure target stops looking like a stretch and starts looking like the next logical stop on the chart.

LiquidChain Is Catching the Attention of Bitcoin holders: Meta AI Predicts It’s the Next 100x

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Most people only recognize a rotation after it’s finished. Right now, it’s still in motion.

Large-cap crypto hasn’t broken down. It’s stuck under a lid. Bitcoin, Ethereum, and XRP have tested the same resistance bands for weeks while the macro catalysts that might free them keep sliding to next quarter. Sitting in those assets and waiting for someone else’s decision to move the price isn’t a position. It’s a queue.

Capital that’s been through enough cycles doesn’t queue. It repositions while the move is still invisible to everyone else.

The math changes entirely at the early stage. When a project’s market cap is small, it doesn’t take much capital to move the price by multiples. That asymmetry is just unpriced information: the market hasn’t valued the project correctly yet, and the distance between today’s price and tomorrow’s recognition is where the gain sits.

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Fragmentation is the quiet tax on DeFi. Bitcoin, Ethereum, and Solana each run their own liquidity in isolation, with no shared layer connecting them. Anyone bridging value between those ecosystems pays for that isolation in fees, slippage, and transactions that fail outright.

LiquidChain merges all three into one execution layer. Deploy once, reach every chain, pay nothing extra for crossing between them.

Nobody has priced this in yet. That’s the window.

The presale sits at $0.01454, with roughly $820,000 raised so far. “Ground floor” isn’t a sales line here. It’s just where the project is, chronologically.

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To be direct: execution hasn’t been tested, and adoption is still a question mark. Established coins offer a calmer climb toward a ceiling everyone can already see. This is the opposite trade — earlier, rougher, and aimed at a ceiling that doesn’t exist yet.

Explore the LiquidChain Presale

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Accenture (ACN) Stock Plummets 25% in Historic Selloff Following Disappointing Bookings

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ACN Stock Card

Key Takeaways

  • ACN shares plummeted 18% immediately following fiscal Q3 earnings, finishing the week down approximately 25% in the company’s worst-ever weekly decline
  • TD Cowen downgraded the stock to Hold from Buy, reducing its price target from $258 to $150
  • New bookings contracted 3% quarter-over-quarter, with executives attributing the decline to major deals being postponed to fiscal 2027
  • Both Truist and Jefferies lowered their price targets, with Truist noting approximately $100M in revenue headwinds from Middle East geopolitical tensions
  • Fourteen analysts have reduced earnings projections; while no analysts currently recommend selling ACN, none identify immediate catalysts for recovery

Accenture (ACN) shares were hovering around $120–$123 on Monday, continuing a devastating selloff from last week that erased nearly 25% of the stock’s value — marking the most severe weekly decline in company history.


ACN Stock Card
Accenture plc, ACN

The collapse started Thursday when ACN plunged 18% to close at $127.98 following the release of fiscal Q3 earnings. The company reported revenue of $18.7 billion, narrowly missing the consensus estimate of $18.78 billion, while adjusted earnings per share of $3.80 exceeded the $3.72 projection. However, the earnings beat failed to compensate for disappointing forward guidance and a 3% sequential decline in new bookings.

TD Cowen analyst Bryan Bergin spearheaded Monday’s analyst downgrades, reducing ACN from Buy to Hold and slashing his price target from $258 down to $150.

“Our thesis anticipating stability before eventual recovery proved incorrect,” Bergin acknowledged. He stated there was no defensible justification for maintaining a positive recommendation “given the deteriorating fundamentals.”

The bookings shortfall proved most concerning. Bergin characterized the 3% decline as completely unexpected — his forecast had anticipated at least marginal growth.

Company leadership attributed the weakness to multiple large contracts being deferred into fiscal 2027. However, Bergin observed that even accounting for an estimated $1 billion in timing-related shortfalls, managed services bookings would still have registered negative growth — an outcome he believes would have disappointed investors regardless.

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Wall Street Continues Slashing Price Targets

Truist Securities reduced its price objective to $150 from $210 while maintaining a Hold rating. The firm highlighted approximately $100 million in revenue disruption stemming from Middle East geopolitical instability, with impacts anticipated to persist through Q4 and possibly longer.

Truist had previously downgraded ACN several weeks ago, citing constrained client budgets, AI-related revenue displacement, and geopolitical uncertainties. Spillover effects from Iranian tensions emerged during the closing weeks of Q3, and the firm anticipates further lengthening of client decision timelines.

Jefferies analyst Surinder Thind likewise trimmed his price target, lowering it to $130 from $185 while retaining his Hold stance. He had identified weakening demand trends as early as March. Thind pointed to reduced revenue and earnings forecasts for calendar year 2027 and emphasized that geopolitical pressures are compounding already subdued discretionary technology spending.

RBC Capital decreased its target to $175 from $253. Guggenheim made a smaller adjustment to $185 from $225 while preserving its Buy recommendation.

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Current Analyst Consensus

Among 30 firms monitored by FactSet, 17 maintain Buy or Overweight ratings on ACN. The other 13 assign Hold ratings. Currently, zero analysts rate the stock as a Sell.

Nevertheless, 14 analysts have lowered their earnings projections for the coming period, according to InvestingPro data. The stock is trading near its 52-week low of $125.60, with RSI indicators suggesting the shares have entered oversold conditions.

CEO Julie Sweet identified Middle East geopolitical tensions as a contributing factor to quarterly underperformance. The company has simultaneously maintained its acquisition strategy focused on cybersecurity capabilities and established partnerships with OpenAI and Anthropic to develop agentic AI solutions.

ACN stock was changing hands at $120.85 Monday afternoon, declining approximately 5.6% for the session.

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Is a 60% Bitcoin Crash Still on the Table? Analyst Points to Wall Street

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Diplomatic efforts between Iran and the United States showed early signs of progress after senior officials from both countries held talks in Switzerland.

Mediators from Qatar and Pakistan said the discussions were constructive, as both sides agreed to a 60-day timeline to secure a final deal. Further technical meetings are scheduled to take place at the Burgenstock resort later this week. The optimism surrounding the talks briefly pushed Bitcoin (BTC) above $64,000, although the asset later gave back some gains and fell below the level.

However, tensions between the two countries still linger as the deal was not signed by June 19 as promised and there are new attacks between Israel and Lebanon. One analyst has outlined a potential downside scenario for Bitcoin if wider market conditions deteriorate.

Worst-Case Scenario

Bitcoin could fall to $23,979 in 2026 if the broader stock market suffers a crash of more than 50%, according to technical analyst Jesse Olson. He shared a two-week Bitcoin chart that depicted BTC potentially declining toward the $23,980 level, based on a long-term volume-weighted support line derived from his proprietary Market Sniper Pro VWAP indicator.

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Olson said such a move would likely require a major stock market downturn while adding that he does not expect Bitcoin to fall to zero.

Meanwhile, another prominent market commentator, Doctor Profit, said that Bitcoin is forming a bearish flag on the daily chart, while growing market optimism is creating liquidity below current prices. He said Bitcoin’s recent uptick matched his earlier expectations and explained that prices can revisit the same levels several times during sideways trading. He expects the asset to eventually fall toward the $54,000-$56,000 range before finding a market bottom at lower levels.

Lagging Institutional Demand

Between June 14 and June 18, spot Bitcoin ETFs saw net outflows of $227 million and extended their losing streak to six straight weeks.

CryptoQuant analyst Darkfost also highlighted the weak institutional appetite for Bitcoin and said the Coinbase Premium Index has remained largely negative in recent weeks. The indicator compares BTC prices on Coinbase Advanced and Binance to gauge the behavior of professional and retail investors.

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According to Darkfost, negative readings mean that institutions trading on Coinbase are selling more aggressively than retail investors on Binance, which has created downward pressure on prices. He added that a wider price gap between the two exchanges points to a greater divergence in investor behavior. Institutional investors are not trying to catch a market bottom; instead, they prefer to wait for stronger price performance and clearer signs of a recovery before increasing their Bitcoin exposure.

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World Liberty Financial's USD1 Supply Grows 9.7% in a Week to $4.85 Billion

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World Liberty Financial's USD1 Supply Grows 9.7% in a Week to $4.85 Billion


USD1's circulating supply expanded 9.7% over the past seven days to $4.85 billion, a 100th-percentile move on the World Liberty Financial-issued stablecoin's three-month supply history. The dollar increase works out to roughly $427 million in new tokens between Monday last week and Sunday,… Read the full story at The Defiant

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