Coinbase: 71% of institutional investors see Bitcoin as undervalued

Approximately 70% of institutional investors believe Bitcoin is undervalued, Cointelegraph reported, citing Coinbase's first-quarter cryptocurrency report. A survey conducted from early December to early January polled 75 institutional and 73 retail investors. The results showed that 71% of institutional investors and 60% of retail investors consider Bitcoin to be undervalued. Additionally, 80% of the institutional respondents indicated they would either maintain their holdings or purchase more if the crypto market were to fall by another 10%. Regarding the current market cycle, 54% of all respondents identified it as an accumulation phase or a bear market. The report also suggested that if the Federal Reserve cuts its benchmark interest rate twice this year, the resulting monetary easing could create a favorable environment for risk assets.