According to news from the crypto world, a report by Coinbase indicates that as macro risks ease, the crypto market is showing bottom signals. Market sentiment and on-chain data are improving, suggesting we might enter a recovery phase in Q2. Although geopolitical tensions and macro uncertainty continue to influence risk appetite, analysts point out that several indicators suggest support for a potential recovery in the second quarter. In Q1 2026, the total crypto market cap (excluding stablecoins) fell by 18%, but the supply of stablecoins rose from $308 billion to $318 billion, indicating that capital hasn't completely exited the market. Bitcoin investor sentiment is improving, with Glassnode data showing that the unrealized profit and loss metric for Bitcoin has shifted from fear to optimism. Meanwhile, 75% of institutional investors and 71% of retail investors believe Bitcoin is undervalued. Bitcoin supply has decreased by 37% over the past three months, while the supply held for over a year has increased by 1%. Additionally, Ethereum is also showing structural improvements, with the supply held for less than three months dropping by 38%, while long-term supply has risen by 1%.