Most large investors still believe Bitcoin
trades cheaper than it should, according to Coinbase’s Charting Crypto Q1 2026 report.
The company’s survey found that when Bitcoin’s price ranged from $85,000 to $95,000, about 70% of institutions considered it undervalued relative to gold and stocks.
Between December and January, Coinbase
$1.88B
gathered responses from 75 institutional and 73 independent investors.
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Among them, 71% of institutions and 60% of independent investors said Bitcoin’s value seemed low. About one in four institutions considered it fairly priced, while 4% considered it overpriced.
However, Coinbase warned, “geopolitical tensions have flared up in several parts of the world, and any escalation of unrest, particularly one that disrupts energy markets, could negatively impact investor sentiment”.
Despite those risks, most institutions remain steady in their crypto outlook. Eight out of ten said they would keep or increase their holdings if the market dropped another 10%.
More than half have already added to or maintained their positions since October, when Bitcoin last reached its high.
Around 54% of institutional investors also think the crypto market is still in a bear or accumulation phase.
Coinbase predicts the Federal Reserve will cut interest rates twice in 2026, which could support assets like cryptocurrencies. It also highlighted a stable US economy, with inflation at 2.7% in December and GDP growth above 5% in the last quarter of 2025.
Coinbase recently introduced an independent group to study how quantum computing could influence the security of digital currencies. What did the company say? Read the full story.
