Coinbase Sees Neutral Q2 Crypto Setup—Here’s What Latest Survey Signals For Bitcoin
Coinbase Institutional has launched its newest second-quarter (Q2) outlook for the crypto market, providing a learn on what institutional buyers stated about Bitcoin (BTC) because the trade strikes into Q2.
What Coinbase Thinks About Q2 2026
In the report, Coinbase frames its general place as impartial for the second quarter of the 12 months, pointing to the sort of uncertainty that makes it tough to press directional bets within the close to time period.
The agency stated persistent, elevated uncertainty tied to the present geopolitical scenario is likely one of the essential causes it isn’t leaning closely towards both upside or draw back trades. In that surroundings, Coinbase expects a extra balanced strategy to danger and return somewhat than aggressive positioning.
It additionally notes that, even with broader uncertainty dominating decision-making, there are nonetheless particular, “idiosyncratic” components that may affect crypto outcomes.
Among them, Coinbase highlights regulatory developments and the rising rise of agentic synthetic intelligence (AI). However, the agency’s view is that these themes are presently taking a again seat to macro and geopolitical danger.
Looking nearer to the current, Coinbase stated it’s cautiously optimistic that the macro image could also be shifting in a extra optimistic route because the quarter begins. The agency means that this might assist many crypto belongings discover a backside within the close to time period after which get better later in Q2.
Coinbase additionally pointed to technical indicators that, on the whole, have turned optimistic not solely throughout crypto markets but in addition throughout fairness markets. Still, the report makes clear that this enchancment is conditional and that it is determined by whether or not a deal is reached with Iran.
82% Of Institutions See Late-Bear Markets
As a part of its outlook, between March 16 and April 7, 2026, Coinbase surveyed 91 international buyers—29 establishments and 62 non-institutions—to collect views on the place the market is headed.
One of probably the most hanging takeaways from the survey is that sentiment has worsened throughout each institutional and non-institutional teams. Coinbase reported that roughly 82% of establishments and 70% of non-institutions now place the market in both bear market or late bear market phases.
Even with the extra pessimistic section readings, the survey suggests buyers proceed to see Bitcoin as a price alternative. Coinbase stated three-quarters of establishments (75%) and about three-fifths of non-institutions (61%) view BTC as undervalued.
The survey additionally measured expectations for Bitcoin’s share of the market, or “dominance.” Coinbase reported that expectations have shifted towards what it referred to as a gradual state. Specifically, the share of establishments anticipating BTC dominance to extend fell from 40% to 25%.
At the identical time, a plurality of establishments—54%—now count on dominance to carry round present ranges, a rise from 44%. Coinbase added that inside that set, 21% of establishments are in search of a decline in dominance.
Featured picture from OpenArt, chart from TradingView.com