Coinbase Analysts Expect Neutral Market Outlook for Q3 2026 as Macro Headwinds Persist
Coinbase analysts have adopted a 'neutral' Bitcoin and broader crypto market outlook for Q3 2026, citing both positive and negative signs. Bitcoin has recovered by nearly 10% after printing a yearly low of $57.8K in H2 2026 but failed to reclaim $68K or the $70K level.
The Supply in Loss metric, which was at 50%, matched previous market cycle bottoms, according to Colin Basco. This suggests that Bitcoin is transitioning from a corrective phase toward accumulation. However, with valuation compressed, the analysts view this as the early innings of a bottoming process rather than a durable low already in place.
The macro backdrop remains 'hawkish,' with fears of Fed rate hikes and renewed U.S.-Iran tensions. This could stall Bitcoin's recovery, with potential bearish catalysts including re-escalation of the US-Iran conflict, resurging oil prices, and selling from prominent digital asset treasuries.