Goldman Sachs Analyst: Bitcoin Price May Have Hit Cycle Bottom, But Trading Volume or Further Decline

BlockBeats News, March 28th, Goldman Sachs analyst James Yaro stated in a research report that the decline in Bitcoin and the crypto market has roughly reached the historical average level from peak to bottom of this cycle. In recent weeks, Bitcoin and crypto-related stocks have been volatile but have stabilized.

However, Yaro warned that trading volume may further decline. In a low-volume environment, the price of Bitcoin is prone to sharp fluctuations, and any rebound may be difficult to sustain. He pointed out that after trading volume bottoms out, a significant rebound usually occurs about 3 months later. If trading volume continues to decline, crypto company revenue may decrease by 2% in 2026, and profit may decrease by 4%.

Goldman Sachs currently has a "buy" rating on Robinhood, Figure Technologies, and Coinbase, whose stock prices have all dropped at least 50% from their historical highs. Yaro stated that digital asset-related assets are becoming increasingly attractive entry points.

Goldman Sachs CEO David Solomon revealed last month at the World Liberty Forum held at Trump's Mar-a-Lago in Florida that he holds a small amount of Bitcoin, marking a shift from his position in 2024.

This week, the price of Bitcoin fell to around $60,000. Trade Nation's Senior Market Analyst David Morrison pointed out that Bitcoin previously encountered resistance and fell back around $72,000. Currently, the daily MACD indicator is trending flat at a neutral level, and the short-term trend direction remains uncertain.