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Goldman Sachs Signals Bottom in Crypto Market and Upgrades Related Stock Ratings

On March 27, Goldman Sachs released a tactical research report indicating that the long-term adjustment of digital assets may be nearing its bottom. Chief Analyst James Yaro noted that since October 2025, crypto-related stocks have fallen by 46%, and the current valuations are becoming 'increasingly attractive' for long-term investors. This shift in Goldman Sachs' stance comes as Bitcoin experiences a period of 'volatile but overall sideways' movement. In the first quarter of 2026, Bitcoin has established strong support in the range of $60,000 to $75,000. The bank pointed out that the significant reduction in 'passive selling' by ETFs and large institutional investors is one of the main drivers for market stabilization. Despite the Federal Reserve's hawkish stance and ongoing geopolitical uncertainties, Goldman Sachs believes the market has successfully absorbed the effects following the 'frenzy' of 2025 and is now entering a constructive consolidation phase. This 'bottoming logic' is further supported by Goldman Sachs' own 13F holdings data: by the end of 2025, its total exposure to Bitcoin and Ethereum ETFs was nearly $2.36 billion. Additionally, Goldman Sachs upgraded the ratings for Coinbase and Figure Technologies to 'Buy' and reallocated to XRP, signaling a return of institutional confidence.

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