Goldman Sachs has weighed in on the state of Bitcoin, suggesting that the cryptocurrency's price may have finally hit its floor after a prolonged period of decline. In a recent note, Goldman Sachs analyst James Yaro pointed out that crypto-related equities have experienced a significant drop of 46% since October 2025. However, Yaro also noted a recent stabilization, with "volatile but flattish performance" in recent weeks, potentially making valuations more attractive.
Despite this potentially positive sign, Goldman Sachs also issued a cautionary note regarding trading volumes. Yaro warned that a further slump in trading activity could reduce revenue by 2% and profits by 4% for crypto companies in 2026. The firm's analysis suggests that trough crypto volumes typically last for about three months before rebounding.
Goldman Sachs has given "buy" ratings to Robinhood, Figure Technologies, and Coinbase, viewing them as top picks in the crypto sector. These companies are currently trading at least 50% below their all-time highs. Other analysts also appear bullish on BTC. Wall Street broker Bernstein has said that Bitcoin has likely bottomed and is maintaining a $150,000 year-end target.
Currently, Bitcoin is trading around $67,000, down from its October 2025 peak of $126,000. The cryptocurrency market remains sensitive to macroeconomic factors, geopolitical tensions, and regulatory developments.
