TD Cowen Lowers Strategy Price Target to $350, Initiates Buy Rating on Four Cryptofinance Companies Including Sharplink
April 10, per The Block: TD Cowen cut its target price for MicroStrategy (MSTR) to $350 from $440 (a 20.5% drop) while retaining a Buy rating. Analysts Lance Vitanza and Jonathan Navarrete cited "lower expected Bitcoin prices" and a reduced valuation multiple for the firm’s Bitcoin earnings as the driver.
The pair trimmed their 2026 fiscal year "BTC earnings" forecast to $7.87 billion—below 2025’s $10.17 billion—but noted MSTR’s core investment thesis still centers on converting market demand for volatility into Bitcoin via an "effective leveraged form."
TD Cowen’s scenarios for MSTR:
- **Base case**: Bitcoin hits $140,000 by December 2026; MSTR adds ~$5 billion in Bitcoin quarterly.
- **Optimistic**: Bitcoin rises to $175,000; quarterly purchases exceed $5 billion.
- **Pessimistic**: Bitcoin drops to $25,000; MSTR pauses buys due to market conditions/financing constraints.
The firm also covers four digital asset treasury companies (all Buy-rated):
- Sharplink (SBET):
6 minutes ago
Iranian Deputy Foreign Minister: All parties have reached a consensus, and the Iranian side's ten-point plan will serve as the basis for negotiations
April 10 — Iranian Deputy Foreign Minister Abbas Araghchi said that all parties have reached consensus, with Iran’s 10-point plan set to form the basis for negotiations at a meeting of foreign envoys and international organization representatives in Iran. He emphasized Iran consistently welcomes diplomacy and dialogue but will never accept talks rooted in false information intended to deceive and pave the way for further military aggression against the country. (CCTV News)
### Notes on U.S. English adaptation:
1. **Conciseness**: Simplified redundant phrases (e.g., omitted repeated "on the 10th" since the date is already clear) and used compact structures (e.g., "set to form the basis" instead of "will serve as the basis").
2. **Clarity**: Added the full name **Abbas Araghchi** (U.S. news typically uses full names for key officials on first mention).
3. **Natural flow**: Replaced repetitive "Iran" with "the country" later to avoid redundancy; used "consistently" (a common U.S. ne
6 minutes ago
Analyst: Bitcoin Daily Bollinger Bands Narrow to New Low Since Early 2024, Potentially Signaling ~40% Volatility Ahead
April 10 (CoinDesk) — The crypto market held steady overall on Friday, with Bitcoin seeing minor volatility around $71,700 and Ethereum trading at $2,180, extending the low-volatility trend of the past few months.
On technical charts, Bitcoin’s daily Bollinger Bands have contracted to their narrowest level since early 2024. Crypto analyst Eric Crown noted that Bitcoin has traded in a $63,000-$75,000 range since early February; historically, such a tight range has preceded roughly 40% price swings.
Per CoinGlass’s liquidation heatmap, a breakout above $75,000 would spark upward momentum and force short sellers to cover their positions. A short-term drop below $70,000, meanwhile, would wipe out roughly $200 million in long positions betting on a breakout.
A key catalyst Friday was U.S. Consumer Price Index (CPI) data. March’s annual inflation rate is expected to hit 3.3%, pushed higher by rising energy costs. Inflation readings above expectations often strengthen the U.S. dollar
6 minutes ago
Bitcoin Surpasses $72,000
On April 10, per HTX market data, Bitcoin topped $72,000, posting a 1.17% 24-hour gain.
6 minutes ago
Mainstream Perp DEX Overview: Platform Trading Volumes Dip, Hyperliquid Position Size Sees Slight Increase
April 10
Per DefiLlama data, total trading volume on on-chain perpetual DEX (Perp DEX) markets has declined. Aster’s 24-hour trading volume has surpassed EdgeX and Lighter, moving to 2nd place. Meanwhile, total open interest for HIP-3 ecosystem projects TradeXYZ and Hyperliquid has seen slight increases.
Below is the latest Perp DEX 24-hour trading volume ranking:
- Hyperliquid (https://app.hyperliquid.xyz/join/NTOD): ~$82.3B trading volume, ~$74.6B open interest
- TradeXYZ: ~$30.2B trading volume, ~$17.4B open interest
- Aster (https://www.asterdex.com/en-US/referral/aboter): ~$20.7B trading volume, ~$19.1B open interest
- Lighter (https://app.lighter.xyz/?referral=70045843): ~$19.0B trading volume, ~$7.06B open interest
- EdgeX: ~$18.4B trading volume, ~$10.5B open interest
- Pacifica (https://app.pacifica.fi/trade/PAXG?referral=pacbot): ~$422M trading volume, ~$79.34M open interest
(Note: Uses American English conventions—concise bullet points, "~" for approximat
6 minutes ago
In the past 24 hours, three oil tankers associated with Iran have sailed through the Strait of Hormuz
As of April 10, shipping data indicates the following maritime movements through the Strait of Hormuz over the past 24 hours:
- Four bulk carriers have transited the strait.
- Three Iran-linked oil tankers (including one Very Large Crude Carrier, or VLCC) have passed through.
- One controlled liquefied natural gas (LNG) carrier and one bulk carrier are departing the strait.
- Two vessels (one cargo ship and one VLCC) are returning to Iran upon completing their voyages.
(FX168)
6 minutes ago