Coinbase Q2 Report Calls Bitcoin 'Undervalued' at $77K Amid ETF Inflows

Coinbase’s Q2 2026 report with Glassnode deems Bitcoin 'undervalued' at $77,057—up 13% over 30 days—buoyed by $2.135B Spot Bitcoin ETF inflows in April and stablecoin growth to $318B. This builds on a prior survey of 91 investors where 75% of institutions and 61% of others viewed BTC undervalued in a late bear phase, backed by onchain signals like BCMI rising to 0.37. Price fell from $87,600 amid thin liquidity, but accumulation metrics and bottom signals point to potential recovery ahead.