Goldman Sachs analyst: The current decline in the crypto market has reached the average level of historical lows.

According to TechFlow news on March 28, Forbes reported that Goldman Sachs analyst James Yaro stated that the current decline in the Bitcoin and cryptocurrency market “has roughly reached the average level of historical cycles from peak to trough,” suggesting that prices may be nearing a temporary bottom. Recently, Bitcoin briefly fell to around $60,000, and the overall market remains volatile. However, Goldman Sachs also warned that current market trading volumes remain sluggish and may decline further in the coming months, putting pressure on prices. In a low liquidity environment, Bitcoin and the cryptocurrency market are more prone to severe fluctuations, and even if a rebound occurs, it may be difficult to sustain. Yaro pointed out that historically, low trading phases in the cryptocurrency market typically last about three months.

Additionally, Goldman Sachs predicts that if trading volumes continue to shrink, it could lead to a decline of about 2% in revenue and about 4% in profits for cryptocurrency-related companies in 2026. Nevertheless, Goldman Sachs maintains a “buy” rating on cryptocurrency-related companies such as Coinbase and Robinhood, believing that current valuations are gradually becoming attractive.

It is noteworthy that Goldman Sachs CEO David Solomon recently revealed that he holds a small amount of Bitcoin, reflecting a change from his previous stance of viewing crypto assets as having “little practical use.” Market analysts pointed out that Bitcoin fell back after encountering resistance near $72,000, with technical indicators trending neutral, and the short-term outlook still carries uncertainty, possibly entering a consolidation phase.