Pi42 Co-Founder and CEO, Avinash Shekhar, who was also ex-Zebpay CEO, spoke exclusively to 99Bitcoins.com about what’s in store for 2026.
According to Shekhar, the beginning of 2026 is likely to be shaped by consolidation and gradual rebuilding of confidence.
Bitcoin has historically formed strong bases after drawdowns of twenty to thirty per cent, and a similar range is possible this time. Institutional accumulation has become more consistent, and many funds view these zones as strategic entry points.
“Market volatility will depend on macro developments, but structurally, the ecosystem is supported by stronger infrastructure, regulated ETF channels, and increased derivatives participation,” Shekhar added. “This environment creates conditions for a stable recovery rather than aggressive speculation. We expect users to turn more toward risk-managed strategies and derivative tools as they navigate this transition.”
A Bear Market Or A Reset?
Bitcoin’s recent drawdown reflects a combination of profit booking, reduced liquidity, and macro uncertainty. Bitcoin has seen more than a 30 percent decline from the peak and periods where market liquidations crossed a billion dollars in a single day.
These are signs of market pressure, but not signs of structural breakdown. What continues to stand out is the strength of long-term accumulation.
Large holders are still adding on dips, and institutional flows have moderated but not disappeared. The reset is healthy because it removes excess leverage and brings valuations closer to long-term fundamentals. In every cycle, this phase creates opportunities for disciplined traders and sets the stage for renewed growth.
Industry giants like the Bitwise CIO, Metaplanet President, etc., are pushing back against bear market talk. What is your take on this?
It is natural to see pushbacks when markets correct, but it is important to interpret this cycle based on data rather than sentiment. Market structure today is far stronger than previous cycles. Realized volatility is materially lower. Long-term holder supply is elevated. ETF inflows remain positive on a monthly basis even if they slow during corrections. These signals show the ecosystem is stabilizing rather than collapsing. Industry leaders emphasize this because the base of institutional capital is much deeper now. Corrections are part of price discovery, but the broader trend reflects a maturing market with more balanced participation and better liquidity.
Role Of ETFs And The Broader Crypto Market Heading Into 2026?
Bitcoin reaching new highs and inching toward multi-trillion valuation territory shows how deeply it has integrated into global financial markets. ETF participation has added a layer of predictable, long-duration capital that was missing in previous cycles.
This strengthens liquidity across exchanges, futures markets, and options markets. With this foundation, the broader ecosystem is positioned for more balanced growth. Infrastructure tokens, scaling solutions, and sectors like tokenization and real-world assets may see greater traction as capital flows diversify. The presence of institutional allocators gives the entire market a more stable base as we move into 2026.
How are evolving regulatory policies across the US, EU, India, and the Asia-Pacific region influencing the next phase of crypto industry growth and investor confidence?
Regulation is becoming more structured across major regions, and this is improving investor confidence. The United States is standardizing institutional access through ETFs. Europe’s MiCA framework is creating clear rules for custody, stablecoins, and market operations. India and much of the Asia Pacific are adopting a more systematic approach to compliance, reporting, and user protection. These developments are reducing regulatory risk, improving transparency, and bringing traditional financial institutions into the ecosystem. As clarity increases, long-term capital becomes more comfortable allocating. This environment aligns directly with our focus on compliant, onshore derivatives infrastructure that can scale responsibly.
How do you see the convergence of AI and crypto, the rise of memecoins, and increasing adoption in emerging markets shaping the ecosystem over the next few years?
The next phase of crypto will be diverse and innovation-driven. AI is opening new frontiers in trading automation, risk modeling, and predictive analytics, which can significantly expand activity in derivatives.
Memecoins continue to attract large, community-led liquidity, and while they are high risk, they play a role in bringing new users into the ecosystem. At the same time, emerging markets are becoming major adoption centers due to mobile-first access, rising financial awareness, and the need for efficient digital assets. These trends together will shape a more inclusive market. They broaden participation, create new use cases, and support long-term ecosystem expansion.
About Pi42
Pi42 is India’s first Crypto-INR perpetual futures trading platform. Pi42 offers crypto perpetual futures in INR and USDT, letting the investor keep balances in rupees while trading global markets. The FIU registered company is on a mission to create a secure sanctuary for daily crypto futures traders, embodying innovation and dynamism in every aspect of operations.
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