Goldman Sachs Sees Cautious Optimism in Crypto Market H2 Prospects

Goldman Sachs has expressed cautious optimism about the cryptocurrency market's prospects for the second half of 2026, despite lower trading volumes. According to a report by the Wall Street giant, crypto trading volumes declined 30% in July and another 21% in August, exceeding the previous five cycles.

The overall crypto market cap rebounded approximately 21% to $2.8 trillion over the past week, while crypto trading volumes plummeted roughly 75% from their peak. Goldman Sachs analysts noted that volumes could recover if market capitalization holds near current levels.

Regulatory uncertainty remains a significant barrier for institutional investors, with 35% citing it as the primary obstacle and 32% viewing regulatory clarity as the catalyst for crypto adoption. However, recent SEC innovation exemptions and crypto companies securing OCC national bank charters have contributed to a positive sentiment shift.

Goldman Sachs has issued buy ratings on Coinbase (COIN) and Robinhood Markets (HOOD), with target prices of $196 and $124 respectively. The Wall Street giant also increased its crypto ETF positions in Q2, with XRP ETFs holding rising to $86.5 million. Bitcoin price has recovered above $80K today, up 26% over a week.