Most Institutional Buyers Nonetheless Bullish On Bitcoin: Coinbase

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Buyers Stay Bullish Regardless of Divide Over Present Market Stage Digital Asset Treasury Corporations Have Had A Main Affect On The Market This Yr Bitcoin Nonetheless Has Room To Run Coinbase Favors Bitcoin, Says Buyers Want To Be Cautious Round Alts Associated Articles:

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Most institutional buyers are bullish on Bitcoin heading into 2026 amid a powerful macro backdrop and digital asset regulatory progress within the US, in response to a report by Coinbase Institutional.

In a report titled, “Navigating Uncertainty,” Coinbase Institutional head of analysis David Duong mentioned that “most respondents are bullish on Bitcoin.”

Buyers Stay Bullish Regardless of Divide Over Present Market Stage

Coinbase Institutional carried out a latest survey of institutional buyers with 124 respondents. 67% of the respondents mentioned that they’re nonetheless bullish on Bitcoin for the following three to 6 months.

Nonetheless, the report famous that there was a “significant divergence” of opinion as regards to what stage of the cycle the market is in. Based on the report, 45% of establishments consider the market is within the late levels of the bull run, whereas solely 27% of non-institutions share the identical view.

Digital Asset Treasury Corporations Have Had A Main Affect On The Market This Yr

Duong then mentioned that digital asset treasury (DAT) companies gave the crypto market a significant increase this 12 months.

“Wanting on the provide/demand image, it’s laborious to overstate the impression that digital asset treasury firms have had on markets this 12 months,” wrote Duong within the report.

The report follows the file $20 billion liquidations within the crypto market on Oct. 10, which analysts have labeled as a much-needed “de-leveraging.”

Throughout that flash crash, the crypto market cap dropped under $4 trillion, and has not managed to get well since, knowledge from CoinMarketCap exhibits.

Crypto market cap (Supply: CoinMarketCap)

Market leaders Bitcoin and Ethereum have additionally struggled to get well their losses from the market-wide pullback. BTC remains to be greater than 3% within the pink on the weekly time-frame, whereas ETH is over 1% down over the previous week.

Zooming out to the month-to-month time-frame exhibits that BTC has slid greater than 3% over the previous thirty days, whereas Ethereum is down greater than 8% over the identical interval.

Technique and BitMine, that are the most important Bitcoin treasury and largest Ethereum treasury firms, respectively, stepped in to purchase the latest dip and supply the crypto market with some help.

After buying 220 BTC on Oct. 13, Michael Saylor not too long ago hinted at a recent BTC purchase by his agency with a cryptic submit on X.

Crucial orange dot is at all times the following. pic.twitter.com/N5GQOdqr6y
— Michael Saylor (@saylor) October 19, 2025

In the meantime, BitMine purchased the most recent dip by buying over 379K ETH price practically $1.5 billion because the flash crash.

Bitcoin Nonetheless Has Room To Run

Duong mentioned within the report that the Bitcoin worth nonetheless “has room to run.” Nonetheless, the analyst is extra cautious now following the latest crypto market flash crash.

“We nonetheless see resilient liquidity circumstances, a powerful macro backdrop, and supportive regulatory dynamics,” the analyst mentioned within the report.

From a macro perspective, Duong mentioned that the “labor market seems to be cooling,” including that “fears of a pointy contraction within the economic system look overblown.”

Along with that, there are additionally two extra anticipated Federal Reserve rate of interest cuts and enormous money-market funds sitting on the sidelines, which Duong mentioned may drive the markets within the fourth quarter.

“Extra fee cuts from the Fed, in addition to higher fiscal and financial stimulus in China, may incentivize extra buyers to return off the sidelines,” the analyst mentioned within the report.

On the regulatory entrance, Duong mentioned that crypto regulation “is heading in the right direction.” The analyst highlighted the signed GENIUS Act and the CLARITY Act as indicators that the regulatory panorama is shifting in the correct route.

Duong additionally famous that infrastructure for US spot Bitcoin and Ethereum ETFs (exchange-traded funds) continues to deepen, which improves entry for conventional market gamers and provides to market depth. These funding merchandise, Duong argues, present rails for the crypto market that preserve utilization and liquidity flowing via volatility.

Coinbase Favors Bitcoin, Says Buyers Want To Be Cautious Round Alts

Duong then went on to say that Coinbase Institutional favors crypto market chief Bitcoin for its “digital gold” narrative, particularly as doubts round fiscal and financial self-discipline persist. The analyst added that Coinbase is extra cautious in relation to altcoins.

Regardless of the cautious stance in direction of altcoins, Coinbase did say that Ethereum seems constructive.