Compass Point Sees Coinbase Rebound on Recovering Bitcoin

Crypto exchange Coinbase Global has seen its stock rating upgraded to Neutral from Sell by Compass Point. The price target was raised to $177, citing expectations that Bitcoin is recovering from a cyclical bottom.

Analyst Ed Engel noted that Bitcoin's four-year cycles are closely tracking historic norms. On August 19, 2026, Bitcoin experienced its largest short liquidation in history with $3 billion in shorts liquidated.

Bitcoin has broken through the $67,000 short-term holder cost basis, putting 65% of all holders in profit. Funding rates on perpetual exchanges have declined to low single digits, implying that leveraged long positions are not overextended.