Coinbase Institutional and Glassnode's Q2 2026 Charting Crypto report maintains a neutral outlook for the cryptocurrency market, citing ongoing geopolitical uncertainties. The report highlights the impact of macroeconomic events, particularly the evolving Middle East conflict, on financial markets. The International Monetary Fund (IMF) has adjusted its global GDP growth forecast from 3.4% to 3.1%, with potential further reductions if oil supply disruptions persist. The report notes that while regulatory developments and AI advancements are significant, they are overshadowed by broader uncertainties. Investor sentiment has shifted towards bearish views, with 82% of institutional investors and 70% of non-institutional investors perceiving the market as bearish. Despite this, a majority believe Bitcoin remains undervalued. The report also observes a decline in the total cryptocurrency market capitalization by 18% in Q1 2026, while stablecoin supply increased, indicating a cautious market stance.