Coinbase: Optimistic outlook for the first quarter after cryptocurrency market correction by the end of 2025 According to The Block, Coinbase Institutional stated in its latest Charting Crypto report that after a correction at the end of 2025, the cryptocurrency market will have a more stable structural foundation by the beginning of 2026; Entering the first quarter, the market position has improved and the overall environment has become more balanced. The report suggests that the decline in the fourth quarter of last year helped clear the accumulated excessive leverage and speculative positions. The current environment shows that the market is undergoing a recalibration rather than returning to aggressive risk-taking. Investors remain active but more cautious in their participation, and their position allocation is more reasonable and orderly than in previous expansion stages, which reduces the downside risk of the market and makes it more resilient to shocks. At the same time, on chain data shows that supply dynamics are becoming more orderly, signs of panic selling are decreasing, and the behavior of holders is gradually returning to normal; The use of leverage in the derivatives market is also more restrained. Although macro uncertainty still exists, related risks have been more digested by market positions, resulting in more restrained price responses.