Ryan Kirkley: The cryptocurrency industry is undergoing a large-scale clearance, and Bitcoin is facing a critical support level test

GSN CEO Ryan Kirkley stated that the cryptocurrency industry is undergoing a large-scale cleanup, with over 100 projects going bankrupt since 2026. Galaxy Research data shows that in the first quarter of 2026, venture capital in the cryptocurrency and blockchain fields was approximately $4 billion, a decrease of about half in funding compared to the fourth quarter of 2025. Ryan Kirkley believes that stablecoins, digital banking, and settlement infrastructure may become winners, while social tokens, Meme coins, and some Web3 gaming projects face severe challenges. Ryan Kirkley stated that Bitcoin is currently in a mild bear market, with $61200 being a key support level. If it falls below this level, the price may drop towards $41000.