Goldman Sachs believes that after months of decline, the prices of Bitcoin and other cryptocurrencies may have bottomed out, and has identified certain assets with upside potential. Multiple institutions are optimistic about Bitcoin.
Goldman Sachs believes that after months of decline, $Bitcoin (BTC.CC)$ the prices of Bitcoin and other cryptocurrencies may have bottomed out, and certain assets with upside potential have been identified. Many institutions are similarly optimistic about Bitcoin. Goldman Sachs analyst James Yaro stated in a report on Thursday that crypto-related stocks have fallen cumulatively by 46% since October 2025, but have shown 'volatile yet stabilizing' trends in recent weeks, gradually presenting attractive valuations.
Goldman Sachs’ top picks include $Robinhood (HOOD.US)$ 、 $Figure Technology Solutions (FIGR.US)$ and $Coinbase (COIN.US)$ , all rated as 'Buy.' Figure, which operates blockchain-based home equity loan businesses, has had its target price raised from $39 to $42, implying a 35% upside from current levels.
Robinhood is expanding its business towards advanced traders and the financial services sector, while Coinbase is focusing on new products such as crypto derivatives, subscription services, stock trading, and banking services.
Goldman Sachs cautioned that trading volumes may further decline, potentially reducing revenue by 2% and profits by 4% in 2026. However, it is expected that trading volumes will rebound within a median trough period of three months.
Bitcoin may have bottomed out.
Other analysts are also optimistic about Bitcoin. After recent volatility, Bitcoin’s trend has stabilized, and market signals suggest it may have hit bottom. Following a sharp sell-off from approximately $75,000 to $67,000, Bitcoin has rebounded, supported by easing ETF selling pressure, long-term holders, and constructive geopolitical factors such as US-Iran negotiations.
Over the past month, Bitcoin has been consolidating between $60,000 and $75,000, a pattern typically associated with market bottoms. K33 Research noted that reduced ETF distributions and an increase in supply held for more than six months reflect a stabilizing market structure.
Research Director Vitor Lund pointed out that below $100,000, investors are less inclined to exit, providing support for the price.
Since late February, ETF fund flows have turned into moderate net inflows, marking the end of the large-scale distribution phase that began in October last year.
Despite macro-level uncertainties, including rising oil prices, geopolitical tensions, and the Federal Reserve's hawkish stance, Bitcoin's range-bound price movements, low open interest in perpetual swap contracts, and negative funding rates indicate a constructive environment for medium- to long-term investors.
Wall Street brokerage Bernstein shares a similar view, believing that Bitcoin is likely to have bottomed out and maintaining its year-end target price of $150,000. Bernstein pointed out that strong inflows into ETFs, growing corporate treasury demand, and $Strategy (MSTR.US)$ (currently holding $53.5 billion worth of Bitcoin) resilience all reflect institutional confidence.
Analysts believe that the recent pullback is more of a temporary sentiment-driven correction rather than a deterioration in fundamentals. The market's continued interest in Strategy's preferred shares also provides additional support for long-term capital.
Overall, both research institutions believe that Bitcoin is transitioning from a distribution phase to stabilization, laying the groundwork for further gains later in the year.
Editor/KOKO