Bitcoin and Crypto May Be Finding a New Floor

Goldman Sachs’ latest research suggests that the sharp decline seen in bitcoin and other cryptocurrencies could be coming to an end, according to analyst James Yaro. The note points out that crypto‑related stocks have lost almost half of their value since October 2025, yet recent trading shows a more stable pattern that could make them attractive to investors.

Yaro recommends buying shares of Robinhood, Figure Technologies and Coinbase, all given a “buy” rating. Figure’s blockchain‑based home equity line of credit has seen its target price lifted to $42 from $39, signalling a potential 35 % gain. Robinhood is broadening its platform for experienced traders, while Coinbase is expanding into derivatives, subscriptions and new services such as equity trading and banking.

The firm warns that trade volumes might fall further, which could shave a few percentage points off 2026 revenue and profits. However, it expects trading activity to recover within about three months after the low point.

Bitcoin itself appears to be stabilising after a recent dip from roughly $75,000 to $67,000. The price has been trading between $60,000 and $75,000 for a month, a range often seen before a market bottom. Analysts note that reduced selling by exchange‑traded funds (ETFs) and a higher supply of coins held for over six months indicate stronger market fundamentals.

ETF inflows have become slightly positive since late February, signalling the end of a heavy distribution phase that followed October. Even with global uncertainties such as rising oil prices and geopolitical tensions, bitcoin’s price action remains range‑bound, with low open interest in perpetual swaps and negative funding rates that favour long‑term holders.

Bernstein, another Wall Street broker, echoes this view and keeps a year‑end target of $150,000 for bitcoin. The firm cites robust ETF flows, corporate treasury demand and the resilience of MicroStrategy’s holdings as evidence that institutional confidence remains intact.

Overall, research teams see the recent pullback not as a collapse of fundamentals but as a temporary shift in sentiment. As distribution slows, the market could move into a period of consolidation and eventually rally later in the year.