Coinbase Strategist: Institutions Not Panicking Over Bitcoin Drop, Instead Buying the Dip

Odaily Odaily News John D’Agostino, Coinbase's Head of Institutional Strategy, stated that although Bitcoin briefly fell below $60,000 recently, large investors such as family offices and sovereign wealth funds did not panic. Instead, they viewed the decline as a discounted buying opportunity.

He noted that these institutions were bullish when Bitcoin was at $125,000, still interested at $100,000, and "liked it even more" around $65,000. Bitcoin fell to $59,200 last Friday, the first time since October 2024, and is down approximately 50% from its high of over $126,000 in October 2025.

D’Agostino believes institutional confidence remains solid, with ongoing investment in related market infrastructure and resilient Bitcoin ETF holdings. Currently, Bitcoin ETF exposure is still around $100 billion, and although prices have nearly halved from their peak, retail interest has only receded by about 15%.

He also downplayed concerns about forced liquidations of leveraged positions held by major institutions, stating that he is not currently aware of any major institutional Bitcoin holders being in a "severely over-leveraged" state.