Goldman Sachs believes bitcoin and crypto prices may have hit their floor after months of declines, highlighting select stocks with upside potential.
In a note on Thursday, analyst James Yaro said crypto-related equities are down 46% since October 2025 but are showing “volatile but flattish performance” in recent weeks, making valuations increasingly attractive, thanks to CNBC reporting.
Top picks include Robinhood, Figure Technologies, and Coinbase, all rated “buy.” Figure, which runs a blockchain-based HELOC business, saw its price target raised to $42 from $39, implying 35% upside from current levels.
Robinhood is expanding offerings to advanced traders and financial services, while Coinbase is focusing on crypto derivatives, subscriptions, and new products like equities trading and banking.
Goldman cautioned that trading volumes could dip further, potentially reducing 2026 revenue by 2% and profits by 4%, but expects volumes to rebound within a median three-month trough period.
Bitcoin has bottomed
Other analysts also appear bullish on BTC.
Bitcoin appears to be stabilizing after recent volatility, with signs suggesting the market may have reached a potential bottom. Following a sharp selloff that pushed BTC from around $75,000 to $67,000, the cryptocurrency has rebounded, supported by easing selling pressure from ETFs, long-term holders, and constructive geopolitical developments, including U.S.–Iran talks.
Over the past month, bitcoin has traded sideways between $60,000 and $75,000, a pattern often linked to market bottoms. K33 Research highlights that reduced distribution from ETFs and rising supply held for more than six months reflect structural market stability.
Head of Research Vetle Lunde noted that with bitcoin below $100,000, fewer investors are inclined to exit positions, anchoring prices.
ETF flows have turned mildly positive since late February, signaling an end to the heavy post-October distribution phase.
Despite macro uncertainty—including rising oil prices, geopolitical tensions, and a hawkish Federal Reserve—bitcoin’s range-bound price action, low open interest in perpetual swaps, and negative funding rates suggest a constructive environment for medium- and long-term investors.
Wall Street broker Bernstein echoes this outlook, asserting that bitcoin has likely bottomed and maintaining a $150,000 year-end target. Bernstein cited strong ETF flows, growing corporate treasury demand, and resilience in Strategy (MSTR)—which now holds $53.5 billion worth of bitcoin—as evidence of institutional confidence.
Analysts view the recent correction as a temporary sentiment reset rather than a breakdown in fundamentals, with continued interest in Strategy’s preferred shares offering additional long-term capital support.
Overall, both research firms see bitcoin transitioning from a distribution phase toward stabilization, setting the stage for potential upside later this year.