Investors See Undervalued Bitcoin Amid Cautious Market Sentiment

According to a new analysis from a prominent cryptocurrency platform and data analytics firm Glassnode, investor sentiment on Bitcoin is at odds with its current market value. The 'Q1 2026 Crypto Market Chart Analysis Report' reveals that a significant majority of both institutional and non-institutional investors believe the leading cryptocurrency is undervalued.

Some 75% of institutions and 61% of retail investors surveyed in the report concur that Bitcoin's price does not accurately reflect its worth. Meanwhile, a substantial proportion of both groups – 82% of institutions and 70% of retail investors – believe the market is currently in a bear phase or nearing one.

Interestingly, despite these bearish expectations, key indicators suggest improving fundamentals for the cryptocurrency. The report notes that Bitcoin's supply has become less mobile over recent months, with just 37% of BTC on the move within the past three months. In contrast, the proportion of coins held immobile for a year has increased by 1%.

Furthermore, cumulative capital inflows into Bitcoin ETFs are rapidly approaching historical highs, potentially indicating growing investor confidence in the asset class.