Coinbase analysts led by Colin Basco have adopted a neutral outlook on Bitcoin and the broader crypto market for Q3 2026. Bitcoin printed a yearly low of $57,800 in H2 2026 before recovering nearly 10% to trade around $64,000, while remaining below the $68,000 and $70,000 levels. The Supply in Loss metric at 50% matches previous market cycle bottoms, but the macro backdrop remains hawkish amid Fed rate hike fears and renewed U.S.-Iran tensions. U.S. spot Bitcoin ETF flows have resumed in H2 2026, but a sustained recovery would require BTC to reclaim $72,300 and $76,000, while a potential floor at $53,000, representing a 17% drop, remains possible if macro headwinds intensify.
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