Goldman Sachs recently released a report stating that after months of decline, the prices of Bitcoin and other cryptocurrencies may have bottomed out, with the valuations of certain related assets gradually showing appeal. Analyst James Yaro noted in the report that since October 2025, crypto-related stocks have fallen by 46% in total, but have recently shown a “volatile yet stabilizing” trend.
Goldman Sachs has selected targets with upside potential, with top picks including Robinhood (HOOD), Figure Technologies (FIGR), and Coinbase (COIN), all rated as “Buy.” Among them, Figure, which operates a blockchain-based home equity loan business, saw its target price raised from $39 to $42, implying a 35% upside from current levels. The report’s analysis suggests that Robinhood is expanding its business toward advanced traders and the financial services sector, while Coinbase is focusing on crypto derivatives, subscription services, and new products such as stock trading and banking services.
Goldman Sachs also cautioned that trading volume could decline further, potentially reducing revenue by 2% and profits by 4% in 2026, but expects trading volume to rebound after a median three-month trough period.
Other analysts are also bullish on Bitcoin. After recent volatility, Bitcoin’s price movements have stabilized, with market signals indicating it may have reached a bottom. Following a sharp sell-off from approximately $75,000 to $67,000, Bitcoin has rebounded, supported by easing ETF selling pressure, support from long-term holders, and constructive geopolitical factors such as U.S.-Iran negotiations.
Over the past month, Bitcoin has traded in a sideways range between $60,000 and $75,000, a pattern often associated with market bottoms. K33 Research noted that reduced ETF distributions and an increase in the supply held for over six months reflect a stabilization in market structure. Vetle Lunde, Head of Research, stated that with Bitcoin below $100,000, investors are less inclined to exit, providing support for prices. Since late February, ETF flows have turned into modest net inflows, marking the end of the large-scale distribution phase that began after October last year.
Despite macroeconomic uncertainties, including rising oil prices, geopolitical tensions, and a hawkish Federal Reserve, Bitcoin’s sideways price action, low open interest in perpetual swaps, and negative funding rates all suggest that the current environment is constructive for medium- to long-term investors.
Wall Street brokerage Bernstein holds a similar view, believing Bitcoin has likely bottomed out and maintaining its year-end target price of $150,000. The firm pointed out that strong ETF inflows, growing demand from corporate treasuries, and the resilience shown by Strategy (which currently holds $53.5 billion in Bitcoin) all reflect institutional confidence. Analysts believe the recent pullback is more of a temporary correction in sentiment than a deterioration in fundamentals.
Since reaching an all-time high of over $126,000 in October 2025, Bitcoin had fallen 45% as of March 22. Looking back, Bitcoin has experienced four major crashes lasting more than a year, with recovery times ranging from 20 to 37 months. It has also gone through several shorter sharp declines, recovering in about five to six months. If this correction resembles the previous two short-term crashes, the worst may already be behind. With prices now stabilizing and support from institutional investors such as spot Bitcoin ETFs, the bottom may be more solid than in the past. However, as a high-risk asset, investors should still exercise prudent risk management when making decisions regarding Bitcoin.
