In a recent quarterly survey published by Coinbase on April 28, 2026, it has been revealed that the prevailing sentiment regarding Bitcoin (BTC) is one of undervaluation, even as its trading price remains below $80,000. This insight emerges during the final days of Jerome Powell’s leadership at the Federal Reserve and as President Trump’s nominee Kevin Warsh prepares to assume his role.
The Coinbase Q2 2026 Charting Crypto report surveyed over 91 investors worldwide. The results indicated that approximately three-quarters of institutional respondents and around 61% of non-institutional participants perceive Bitcoin as being undervalued.
Interestingly, only about 7% of institutions and 11% of non-institutions consider it overvalued. These figures have remained relatively stable since December 2025, according to David Duong, Coinbase’s global head of research.
This consistent perception of undervaluation becomes more pronounced when viewed in a broader context. The research team at Coinbase has rated its overall crypto outlook for Q2 as “neutral,” attributing this stance to geopolitical uncertainties related to conflicts in the Middle East and various economic developments.
The International Monetary Fund (IMF) recently revised its global GDP growth forecast for 2026 from an anticipated rate of 3.4% down to just 3.1%. Furthermore, Oxford Economics has cautioned that severe disruptions in oil supply could potentially reduce growth rates further down to a mere 1.4%, particularly if major economies slip into recession.
Is Jerome Powell departing from the Federal Reserve?
Jerome Powell presided over his last Federal Open Market Committee meeting on April 29; during this meeting, Fed rates were maintained within a range between 3.50% and 3.75%. He also announced plans to remain on the Board of Governors following his chairmanship conclusion on May15; however, he will technically serve until January2028.
Powell received commendations from numerous colleagues including Krishna Guha—vice chairman at Evercore ISI—who remarked that Powell “achieved an extraordinary feat by reducing inflation without triggering a recession,” despite subsequent price increases due to Trump-era tariffs.
Guha added that Powell would be remembered for “the dignity and professionalism he brought into public service” after navigating what he described as “the most significant assault on central bank independence in decades.”
The upcoming transition in leadership has sparked discussions among cryptocurrency investors regarding interest rate policies. As reported by Cryptopolitan, Senator Thom Tillis recently indicated support for advancing Warsh’s nomination which suggests a confirmation vote may occur soon.
However, Powell’s decision to remain with the board could complicate Warsh’s agenda moving forward; several policies favored by Warsh—including eliminating dot plots and revising inflation target measures—may encounter resistance with Powell still serving as governor according to analyst Matt Weller.
The logic appears straightforward for traders: should Powell fully step down it would pave way for Warsh’s initiatives potentially leading long-term rates lower; however his choice to stay keeps variables uncertain going forward.
ETF inflows bolster Bitcoin’s bullish narrative
Apart from survey findings indicating positive sentiment towards Bitcoin，spot ETFs have attracted nearly $2 billion year-to-date according Adrian Fritz—the chief investment officer at21Shares.Speaking during CoinDesk’s Public Keys，Fritz noted how daily trading volumes now rival those seen among mega-cap equities like Nvidia exceeding$50 billion while labeling BTC“institutional ready” due liquidity structures provided through ETFs。
According Fritz，the entry into crypto markets by large asset managers such Morgan Stanley accelerates adoption trends。He characterized ongoing inflows buildup not merely speculative but structural suggesting potential consolidation near current levels before possibly reaching$100k mark if conditions align favorably before year-end。
Combining broad institutional conviction around perceived undervaluation alongside expected shifts within Fed leadership which might favor looser monetary policy combined sustained ETF inflows provides multiple catalysts fueling optimism amongst bitcoin advocates—even amidst geopolitical risks keeping coinbase researchers cautious short term。
FAQ
- What does “undervalued” mean in relation to Bitcoin?
This term indicates that many investors believe Bitcoin is worth more than its current market price suggests based on various factors such as demand or market conditions. - If Jerome Powell remains with the Board after stepping down from Chairmanship how might this affect future monetary policy decisions?
This could lead certain proposed changes under new leadership facing opposition thus impacting overall direction taken regarding interest rates or inflation targets. - Aren’t spot ETFs considered risky investments?
No investment comes without risk but these particular products provide structured liquidity making them appealing options especially among institutional players looking enter cryptocurrency markets safely.