As the US-Iran war enters its fifth week, it continues to heighten tensions in the markets. Rising oil prices are increasing the risk of inflation, negatively impacting Bitcoin ($BTC) and altcoins.
At this point, Bitcoin and altcoins started the last day of the week with declines. $BTC fell below $68,000, while Ethereum (ETH) approached the $2,000 mark.
While some analysts suggest these fluctuations indicate a risk of further decline, Goldman Sachs argues that Bitcoin may be approaching its bottom after a prolonged downturn.
Goldman Sachs chief analyst James Yaro stated that the selling pressure experienced since October 2025 has eased and market balances have improved. He added that these two developments are significant indicators that the worst of the decline may be over.
According to the analyst, while macroeconomic downsides such as the Fed’s hawkish stance, tight monetary policy, and geopolitical risks persist, their impact now appears more limited.
The analyst also noted that since October 2025, Bitcoin and $BTC-related stocks have fallen by 46%. Now, he suggests, this decline presents an opportunity.
A Goldman Sachs analyst stated that despite the 50% correction, the current market structure is more robust compared to previous cycles.
According to the analyst, Bitcoin formed strong support in the $60,000 to $75,000 range in the first quarter of 2026.
Factors such as decreasing selling pressure and a more balanced market suggest that Bitcoin has entered a consolidation phase rather than continuing its downward trend.
The analyst expects Bitcoin to bottom out with a constructive consolidation in the coming period, predicting that a typical bottoming period will last approximately three months.
Furthermore, the analyst predicts that a recovery could occur in the second half of 2026.
The bottom formation prediction is also supported by Goldman Sachs’ own asset data. By the end of 2025, its total investment in Bitcoin and Ethereum ETFs will reach approximately $2.36 billion. In addition, Goldman Sachs has a $152 million investment in XRP ETFs.
*This is not investment advice.
