Coinbase's Q2 2026 crypto report, in collaboration with Glassnode, suggests the cryptocurrency market is approaching a bottom. The report highlights an 18% decline in global cryptocurrency market capitalization in Q1 2026, while the stablecoin market grew from $308 billion to $318 billion. Despite the downturn, institutional sentiment has shifted, with 82% now viewing the market as in a late bear phase, up from 36% in December 2025. Bitcoin is considered "undervalued" by many investors, trading at $77,057.04, a 13% increase over the past month, with $2.135 billion in spot Bitcoin ETF inflows in April. Ethereum sentiment has improved to "hope," with its price at $2,324.01, up 12% over the previous month. The report maintains a "neutral" outlook for Q2 2026, noting geopolitical tensions and regulatory developments as key influences on market performance.