Wu Blockchain reports that Coinbase, in collaboration with Glassnode, has released the report *Charting Crypto Q2 2026*, stating that the crypto market is still primarily driven by macro factors and Middle Eastern geopolitical developments, with high short-term uncertainty. Bitcoin's NUPL has recovered from the 'Fear' phase in Q1 to the 'Optimism' phase, with approximately 75% of institutional investors and 71% of retail investors believing Bitcoin is undervalued. As for Ethereum, short-term supply (held for less than three months) decreased by 38% in Q1, while long-term supply (held for over a year) increased by 1%. Overall, changes in the macro environment may support crypto assets in forming a bottom in the near term and rebounding later in the quarter. https://(wublock123.com)/news/coinbase-report-crypto-market-bottoming-sentiment-rebounds-macro-driven-60259