Goldman Sachs releases a bottoming signal for the crypto market and upgrades related stock ratings

On March 27, Goldman Sachs released a tactical research report, pointing out that the long-term adjustment of digital assets may be near the bottom. Chief analyst James Yaro said crypto-related stocks have fallen 46% since October 2025 and current valuations are becoming "increasingly attractive" for long-term investors. Goldman Sachs 'change of stance comes as Bitcoin is experiencing a period of "volatile but generally sideways". In the first quarter of 2026, Bitcoin formed strong support in the range of $60,000 to $75,000. The bank pointed out that "passive selling" by ETFs and large institutional investors has decreased significantly, which is one of the main driving factors for market stabilization. Despite the Fed's hawkish stance and geopolitical uncertainty still exists, Goldman Sachs believes that the market has successfully absorbed the impact of the "frenetic market" in 2025 and is currently entering a constructive consolidation stage. This "bottom-building logic" is also supported by Goldman Sachs 'own 13F position data: as of the end of 2025, its total exposure to Bitcoin and Ethereum ETFs is close to US$2.36 billion. In addition, Goldman Sachs upgraded Coinbase and FigureTechnologies to "Buy" and reallocated them to XRP, and institutional confidence returned.