Wall Street broker Bernstein stated that crypto-linked equities are approaching a trading floor ahead of first-quarter earnings reports. Analysts led by Gautam Chhugani noted the sector has suffered a roughly 60% drawdown from its peak in October 2025. The firm views these price levels as a rare opportunity to buy large businesses at significant discounts.
The brokerage lowered its price targets for Coinbase, Robinhood, and Figure while maintaining outperform ratings. Coinbase targets were adjusted to $330 from $440, while Robinhood targets moved to $130 from $160. Figure received a revision to $67 from $72, reflecting near-term revenue headwinds despite long-term growth potential.
The combination of geopolitics and temporary crypto weak sentiment is offering big discounts on crypto stocks," analysts led by Gautam Chhugani said.
Analysts expect near-term weakness to persist through Q1 results before sentiment stabilizes. The broker reiterated its $150,000 year-end price target for Bitcoin, indicating confidence in a broader market recovery. Earnings reports will soon clarify the fundamentals for these public crypto firms.
Bitcoin prices have fallen roughly 40% to 50% from record highs near $126,000 since October. The broader digital asset market value declined by about two trillion dollars during this sustained correction. Unwinding leverage and macro pressures drove the selloff that erased much of the prior bull run gains.
Market Context
Corporate treasury activity remains a key indicator of institutional interest during this period. Bitmine Immersion Technologies purchased 71,179 ether last week, marking its largest weekly accumulation of 2026. Strategy paused its streak of Bitcoin purchases, yet Bitmine continues to buy despite the price slump.
Long-Term Outlook
The report highlights strong multi-year growth tied to tokenization and derivatives markets. Stablecoins are entering an institutionalization era where regulated issuers like USDC and RLUSD gain share. North America leads in regulatory frameworks and institutional distribution for these financial infrastructures.
Investors should watch for how earnings clarify fundamentals and whether sentiment stabilizes into the rest of the year. The broker maintains that current levels offer access to large and growing markets despite the discount. Future price action will depend on regulatory clarity and macroeconomic stability.
