Roughly two-thirds of institutional investors remain optimistic about Bitcoin’s prospects heading into 2026, according to Coinbase Institutional’s latest survey.
The findings suggest that large investors continue to view Bitcoin as a core asset despite recent volatility and mixed market sentiment. "Most respondents are bullish on Bitcoin,” wrote David Duong, head of research at Coinbase Institutional, in the firm’s new report titled Navigating Uncertainty.
However, Duong noted a “meaningful divergence” in perception of the market cycle, 45% of institutional respondents said the market is in the late stage of a bull run, while only 27% of retail investors shared that view. Duong highlighted that digital asset treasury (DAT) companies have played a key role in shaping supply and demand dynamics this year.
Coinbase surveyed 124 institutional investors, with 67% expressing a positive outlook for Bitcoin over the next three to six months.
The report maintained that the crypto bull market “has room to run,” though Coinbase struck a more cautious tone following the October 10 sell-off.
Similarly, Michael Saylor hinted that Strategy (formerly MicroStrategy) may increase its Bitcoin holdings after revealing a chart showing its $69 billion BTC treasury position.
He cited BitMine, chaired by Tom Lee, which recently purchased over 379,000 Ether (ETH) worth nearly $1.5 billion following last month’s market correction.
“Additional rate cuts from the Fed, as well as greater fiscal and monetary stimulus in China, could incentivize more investors to come off the sidelines,” Duong wrote. While Coinbase sees a favorable setup for Bitcoin, the firm remains cautious on altcoins, citing weaker liquidity and higher volatility.
Duong said liquidity conditions remain robust and that a supportive macro backdrop, including potential Federal Reserve rate cuts and renewed stimulus measures in China, could help sustain market momentum into late 2025.
