Goldman Sachs notes that after months of declines in the crypto market, prices may be approaching cyclical lows. In a note dated March 26, 2026, bank analyst James Yaro emphasized that the current pullback is quite close to historical averages. Bitcoin has fallen approximately 46% from its October 2025 peak of $126,000, settling in the $66,000 to $70,000 range. This correction is painting a similar picture in crypto-related stocks.

Crypto-related stocks have fallen around 46% compared to their October 2025 peaks. Goldman Sachs states that this decline makes valuations more attractive. The bank highlights Robinhood, Figure Technologies, and Coinbase among the prominent companies, maintaining a buy recommendation for all three. While raising the price target for Coinbase to $235, it still sees around 35% upside potential. Similarly, it points to attractive entry points for Robinhood and Figure Technologies.
However, Goldman Sachs warns that weakness in trading volumes may persist. Goldman Sachs notes that periods of low volume historically last an average of three months. This could lead to a 2% decrease in revenue and a 4% decrease in profitability in 2026. However, they add that the volume contraction is manageable and a recovery is expected in the second half of the year. The market has been exhibiting volatile but flat performance in recent weeks.
In its overall assessment, Goldman Sachs signals that crypto prices are approaching a cyclical bottom. They state that the historical peak has been reached and the average bottom has been reached, increasing opportunities for long-term investors. However, short-term volume-driven pressures may continue. While this pressure could lead to sudden fluctuations in the Bitcoin price, it could also delay a sustained recovery.
In conclusion, Goldman Sachs' analysis indicates that the market is at a critical juncture. While the correction that has lasted for months conforms to historical norms, selective stock opportunities are emerging. Names like Robinhood Figure and Coinbase are attracting attention during this period. Investors are watching for a volume recovery and are hopefully awaiting the second half of 2026. With this bottom signal, the crypto market is preparing to step into a new cycle.
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