Goldman Sachs backs crypto stocks amid Bitcoin breakout

Goldman Sachs has backed Coinbase and Robinhood shares as Bitcoin’s 26% weekly rally has lifted the cryptocurrency above $80,000 despite an extended decline in market trading volume. Summary Goldman Sachs maintained buy ratings on Coinbase and Robinhood, with targets of $196 and $124. Crypto trading volume fell 30% in July before declining another 21% in August. Goldman disclosed about $86.5 million of exposure across five spot XRP ETFs for the second quarter. Bitcoin reached roughly $81,255 before profit-taking pulled its price back toward $79,000. Goldman Sachs expects crypto activity to recover Goldman Sachs said in its latest Americas Brokerage and Crypto Industry report, circulated on X, that crypto trading volumes dropped 30% in July and another 21% in August. Analysts described the current slowdown as longer than the previous five volume contractions examined by the bank. 🚨 Goldman Sachs Turns Cautiously Bullish on Crypto for H2 2026Despite trading volumes dropping 30% in July + 21% in August (longer than past cycles), the bank sees potential rebound if market cap holds near $2.8T.Goldman Sachs even increased crypto ETF positions and… https://t.co/uFOip7un77— Rednirav (@Cryp...