TechFlow News, March 28: According to Forbes, Goldman Sachs analyst James Yaro stated that the current decline in Bitcoin and the broader crypto market “has broadly reached the historical average from peak to trough across prior cycles,” suggesting prices may be approaching a near-term bottom. Recently, Bitcoin dipped to around $60,000, with the overall market remaining range-bound. However, Goldman Sachs also warned that market trading volume remains persistently low and could further decline over the coming months, exerting downward pressure on prices. In low-liquidity conditions, Bitcoin and the broader crypto market are more prone to sharp volatility; even rebounds may struggle to sustain momentum. Yaro noted that historically, low-volume phases in crypto markets typically last about three months.
Additionally, Goldman Sachs forecasts that if trading volumes continue to shrink, revenue for crypto-related companies in 2026 could fall by approximately 2%, and profits by roughly 4%. Nevertheless, Goldman Sachs maintains its “Buy” rating on crypto-related firms such as Coinbase and Robinhood, citing increasingly attractive valuations at current levels.
Notably, Goldman Sachs CEO David Solomon recently revealed he holds a small amount of Bitcoin—a shift from his earlier stance describing crypto assets as having “no practical use.” Market analysts point out that after Bitcoin stalled near $72,000, technical indicators have turned neutral, leaving short-term price direction uncertain and suggesting the market may currently be in a consolidation phase.
