Coinbase strategist: Institutions aren't panicking over Bitcoin's drop, but buying the dip

Odaily Planet Daily reported that John D’Agostino, Head of Institutional Strategy at Coinbase, stated that despite Bitcoin briefly falling below $60,000 recently, large investors such as family offices and sovereign wealth funds have not panicked. Instead, they view the decline as a discounted buying opportunity.

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

D’Agostino believes that institutional confidence remains solid, investment in related market infrastructure continues, and Bitcoin ETF holdings show resilience. Currently, Bitcoin ETF exposure is still around $100 billion. Although the price has nearly halved from its highs, the retracement in retail interest is only about 15%.

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