Coinbase executive says institutions prefer Bitcoin at $60K over peak prices

Institutional investors are showing stronger interest in Bitcoin at lower price levels than at market highs, according to a senior Coinbase executive. There is a growing preference among large investors to accumulate the cryptocurrency during periods of weakness rather than chase rallies.

John D’Agostino, Head of Institutional Strategy at Coinbase, says many investors see the recent Bitcoin correction to $60,000 as a prime accumulation window rather than a cause for alarm.

Speaking about the market behaviour he contends that institutional confidence hasn’t wavered. D’Agostino notes that the big players have done their homework for years and actually prefer buying Bitcoin when it’s on a dip.

He remarked, “Family offices, government funds, and sovereign funds that are trying to buy these assets can do so at a discount, and they are not discouraged by this. Lower prices are actually more favored.”

Spot ETFs retain their billion-dollar exposure despite Bitcoin’s value dip

D’Agostino also noted that spot ETFs still command nearly $100 billion in exposure, and retail interest has dropped by only 15% despite Bitcoin’s value being cut in half.

According to the Coinbase executive, the Bitcoin industry is now backed by stronger institutional-grade infrastructure, evolving rules, and proposed legislation that could further support long-term growth.

“I think both retail and institutional are signaling this is a long-term asset you want to hold,” he said.

Moreover, he minimized the threat of forced selling, saying most major investors have sufficient financial backing to remain invested during market stress. He said that, in fact, the story is about accumulation: large buyers are hungry for cash and looking to build positions, and the $60,000 range is much more attractive than the six-figure peaks.

This deep-pocketed confidence is playing out in real time, as Strategy (NASDAQ: MSTR) sustained its aggressive accumulation strategy with a fresh $101 million purchase of 1,550 BTC.

At the moment, Bitcoin is trading at $62,724, down 22% in the last 30 days and around 50% from its October peak.

Bernstein says BTC’s decline is a sign of a strong institutional foundation

Earlier, analysts at Bernstein also recognized the Bitcoin dip, attributing it to sluggish inflows, as many retail investors chose to chase opportunities in the booming AI sector instead. Nonetheless, like D’Agostino, Bernstein does not see the decline as a threat.

The asset’s muted activity in the early days of the year should be seen as evidence of a more solid institutional basis rather than a deep downturn, it said in its latest report. Bitcoin has attracted substantially fewer new capital this year, the report found, with net inflows from ETFs and corporate treasuries dropping from $60 billion in 2025 to $12 billion so far.

But analysts say this pullback is a good thing. They say that every day traders have shifted from AI stocks to Bitcoin, and that this will put their money into institutional players, pension funds, sovereign wealth funds, and corporate treasuries. So this creates a much more stable base than the hype-driven crowds of the past.

Additionally, it reaffirmed its target of $150,000 by the end of the year, even as market conditions remain challenging. It also asserted: “Bitcoin being boring this cycle should not be held against it, and does not take away from the long-term ‘store of value’ thesis, in our view.”

Meanwhile, in a CNBC interview with D’Agostino, host Joe Kernen highlighted several reasons for Bitcoin’s current slump. The CNBC host cited general market risk aversion, capital flows toward alternative investments, elevated interest rates, and regulatory uncertainty as major factors driving the situation. D’Agostino supported his opinion but noted that volatility is always typical of commodity-type instruments.

He added that the future of Bitcoin remains promising despite geopolitical issues, such as the situation with Iran and the Strait of Hormuz.