Around 70% of institutional investors believe bitcoin is undervalued between $85,000 and $95,000, according to Coinbase research.
Coinbase said its Q1 2026 survey covered 75 institutional investors and 73 independent investors.
The study found 71% of institutions and 60% of independent investors viewed bitcoin as undervalued.
About 25% of institutional respondents said bitcoin was fairly valued during the survey period.
Only 4% of institutions considered bitcoin overvalued.
Bitcoin is trading near $87,600, down more than 30% from its October all-time high.
Crypto prices have struggled to recover since an October market crash wiped out billions in leveraged positions.
Coinbase warned that rising geopolitical tensions could continue to weigh on investor sentiment.
“Geopolitical tensions have flared up in several parts of the world, and any escalation of unrest could negatively impact investor sentiment,”
Coinbase said.
Traditional safe havens have outperformed, with gold hitting a record above $5,000 and silver sharply higher.
Despite volatility, 80% of institutional investors said they would hold or buy more crypto if prices fall further.
More than 60% said they have held or increased crypto exposure since October.
Coinbase expects potential rate cuts in 2026 to provide a tailwind for crypto markets.
At the time of reporting, Bitcoin price was $87,613.73.