Institutions Acknowledge Bitcoin Bear Market Yet View it as Undervalued

A recent survey conducted by Coinbase Institutional in collaboration with Glassnode revealed that one in four institutional investors believes that the cryptocurrency market has officially transitioned into a bear phase. Despite this acknowledgment, a significant majority of these institutions still perceive Bitcoin's current price as undervalued. In fact, around 70% of surveyed institutions expressed that they consider Bitcoin to be trading below its potential value.

Moreover, many institutions indicated that they have either maintained or even increased their exposure to Bitcoin since October. This trend highlights a significant divergence between their acknowledgment of market conditions and their actual investment strategies. The disparity is noteworthy, as it reflects how these institutions are strategically positioning themselves in a challenging market environment.