On January 26, Coinbase stated in its released "Charting Crypto Q1 2026 Report" that approximately 70% of institutional investors believe Bitcoin is undervalued within the range of $85,000 to $95,000. The report shows that Coinbase conducted a survey between early December 2025 and early January 2026, polling 75 institutional investors and 73 independent investors. Among them, 71% of institutional investors and 60% of independent investors consider Bitcoin's current valuation to be low; about 25% of institutional investors believe its valuation is reasonable, while only 4% think it is overvalued. During the survey period, Bitcoin's price largely fluctuated within the range of $85,000 to $95,000.
Coinbase pointed out that since Bitcoin hit a historical high of approximately $126,000 in October 2025, its price has fallen by over 30%, significantly underperforming compared to precious metals like gold and silver, as well as the U.S. stock market. Due to factors such as geopolitical tensions and tariff uncertainties, sentiment in the crypto market remains cautious. In terms of investment behavior expectations, 80% of institutional investors indicated that if the market declines another 10%, they would choose to hold or buy the dip; over 60% of surveyed institutions reported maintaining or increasing their crypto asset allocations since October.
Additionally, 54% of institutions believe the current market is still in an "accumulation phase" or bear market range. Coinbase also anticipates that the Federal Reserve may implement two rate cuts totaling 50 basis points in 2026, potentially providing some macro support for risk assets, including crypto assets.
