Coinbase Report: Crypto Market Structure More Robust After Adjustment, Optimistic Q1 Outlook

According to the latest Charting Crypto report released by Coinbase Institutional, after the adjustment at the end of 2025, the crypto market entered the first few months of 2026 with a more solid structural foundation, improving market positioning, and a more balanced market environment, a situation expected to persist into the first quarter. The decline in the fourth quarter of last year helped clear out excessive leverage and speculative positions accumulated previously. The current environment indicates the market is undergoing recalibration rather than returning to aggressive risk-taking. Investor participation remains active but more cautious, with position allocation being more reasonable and orderly compared to previous expansion phases, which reduces downside risks and makes the market more resilient to shocks. Furthermore, the macro environment is acting as a "buffer." The report states that although uncertainties regarding monetary policy, geopolitics, and regulation persist, these risks are increasingly being priced in by the market and reflected in positioning structures, rather than triggering sudden sharp volatility, leading to more rational and restrained market reactions. (CoinDesk)