Coinbase Report: Neutral Outlook for Cryptocurrency Market Amid Global Liquidity Pressures
Coinbase Institutional and Glassnode have released their joint market report for the third quarter of 2026, stating that they maintain a neutral outlook for the cryptocurrency market.
The total cryptocurrency market capitalization, excluding stablecoins, declined by approximately 12 percent in the second quarter of the year. However, stablecoin supply reached an all-time high, indicating increased liquidity held by investors outside the market.
On-chain data suggests that Bitcoin may be transitioning from a correction and rebalancing phase to an accumulation period. The report notes that Bitcoin valuations are under pressure, the recently moved supply has fallen to its lowest levels in several years, and the percentage of supply in profit has dropped below its historical low.