Around two-thirds of institutional investors have a positive outlook for Bitcoin going into 2026, according to Coinbase.
“Most respondents are bullish on Bitcoin,” David Duong, head of research at Coinbase Institutional, wrote in a research report titled **“Navigating Uncertainty.”** Coinbase conducted an institutional investor survey with 124 respondents, finding that 67% of institutional investors had a positive outlook for Bitcoin (BTC) over the next three to six months.
The report also highlighted a “meaningful divergence” of opinion regarding the current stage of the market cycle. While 45% of institutions believe markets are in the late stages of the bull run, only 27% of non-institutions share this view.
### Crypto Treasuries Are Buying the Dip
“Looking at the supply/demand picture, it’s hard to overstate the impact that digital asset treasury companies have had on markets this year,” Duong noted.
Among the companies buying the dip is Tom Lee-chaired BitMine, which has purchased more than 379,000 Ether (ETH), worth nearly $1.5 billion, since the market crash that pushed Ether prices back below $4,000.
Meanwhile, Michael Saylor hinted that his company, Strategy, may buy more Bitcoin after sharing a chart showing $69 billion in BTC holdings. Despite recent equity pullbacks, digital asset treasury (DAT) crypto reserves remain intact, signaling strong long-term conviction.
### Bull Market Has Room to Run
Duong believes the crypto bull market “has room to run,” though he expressed caution following the events of October 10.
“We still see resilient liquidity conditions, a strong macro backdrop, and supportive regulatory dynamics,” he said.
Coinbase also highlighted macroeconomic and liquidity tailwinds that could fuel market growth in Q4, including two more expected Federal Reserve rate cuts and large money-market funds currently sitting on the sidelines.
“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,” the report added.
### Favorable Setup for Bitcoin
The current market setup looks particularly favorable for Bitcoin, according to Coinbase. However, the firm maintains a more cautious stance on positioning in altcoins.
Over the weekend, crypto markets remained steady. Bitcoin topped $109,000 after reclaiming the support-turned-resistance level at $108,000, and Ether briefly climbed above $4,000. Despite these gains, no major attempts at recovery have occurred yet, as sentiment remains cautious.
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*Stay tuned for more updates on Bitcoin and crypto markets as we approach 2026.*
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