Coinbase: Majority of Institutional Investors Believe Bitcoin Is Undervalued in the $85K to $95K Range

Coinbase said in its **Q1 2026 Crypto Report** (released January 26) that ~70% of institutional investors view Bitcoin as undervalued in the $85,000–$95,000 range. The report draws on a survey of 75 institutional investors and 73 retail investors conducted **early December 2025–early January 2026**: - 71% of institutions + 60% of retail investors see Bitcoin as *currently* undervalued; - 25% of institutions call its valuation fair, with just 4% deeming it overvalued; - Bitcoin traded mostly between $85k–$95k during the survey period. Since hitting an all-time high of ~$126,000 in October 2025, Bitcoin has dropped >30%—**underperforming gold, silver, and U.S. equities**. Geopolitical tensions and tariff uncertainties have kept crypto sentiment cautious. On investment behavior: - 80% of institutions say they’d *hold or buy the dip* if the market falls another 10%; - >60% of surveyed institutions have maintained or increased their crypto allocations since October. Additionally, 54% of institutions believe the market is still in an **"accumulation phase" or bear market range**. Coinbase forecasts the Federal Reserve will cut rates *twice in 2026* (total 50 basis points) to support risk assets, including crypto.