Coinbase Institutional released an analysis stating that recent geopolitical turmoil has disrupted traditional markets and may drive a sentiment shift toward cryptocurrencies, particularly Bitcoin, among investors. As U.S. non-farm payroll data cools and BTC has continued to outperform U.S. equities since March, markets may have passed peak pessimism. Institutional recognition of Bitcoin's value as a decoupled asset may be increasing. Additionally, rising systemic leverage reflects heightened market participation. Coinbase maintains only a "cautiously optimistic" rating on this.