Institutional investors have a positive outlook for Bitcoin over the next three to six months, with multiple forces contributing to a bullish Q4 for crypto.
Around two-thirds of institutional investors have a positive outlook for Bitcoin going into 2026, according to Coinbase.
“Most respondents are bullish on Bitcoin,” wrote David Duong, Head of Research at Coinbase Institutional, 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.
It added that there was a “meaningful divergence” of opinion regarding where we are in the market cycle, with 45% of institutions believing markets are in the late stages of the bull run, compared to just 27% of non-institutions.
“Looking at the supply/demand picture, it’s hard to overstate the impact that digital asset treasury companies have had on markets this year,” wrote Duong.
Tom Lee-chaired BitMine has been among the companies buying the dip, scooping up more than 379,000 Ether (ETH) worth almost $1.5 billion since the market crash that pushed Ether prices back below $4,000.
Meanwhile, Michael Saylor hinted on Sunday that Strategy may buy more Bitcoin after sharing a chart showing $69 billion in BTC holdings. Even with equity pullbacks, DAT crypto reserves remain intact, signaling long-term conviction.
Coinbase’s Duong said the crypto bull market “has room to run,” but is more cautious after the events of Oct. 10.
“We still see resilient liquidity conditions, a strong macro backdrop, and supportive regulatory dynamics.”
Related: Crypto crash unlikely to have derailed ‘Uptober,’ analysts say
Coinbase also highlighted macro and liquidity tailwinds, including two more expected Federal Reserve rate cuts and large money-market funds sitting on the sidelines, that could drive markets in Q4.
“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 current setup looks particularly favorable for Bitcoin, the firm stated, but had a more cautious approach for positioning in altcoins.
Crypto markets have remained steady over the weekend, with Bitcoin topping $109,000 after reclaiming the support-turned-resistance level at $108,000 and Ether climbing above $4,000 briefly, but there have been no major attempts at recovery yet as sentiment remains cautious.
