Bitcoin fell below $60,000 for the first time since October 2024 on Monday, sinking as low as $59,099 — a move that marks a decline of more than 50% from its all-time high near $126,000. 

But according to John D’Agostino, Coinbase’s head of institutional strategy, the drop is being welcomed — not feared — by the most sophisticated players in the market.

Appearing on CNBC’s Squawk Box Monday morning, D’Agostino said the institutional investors he speaks with regularly are viewing the pullback as an opportunity to accumulate at a discount, not a reason to panic.

“I just got off a plane from the Middle East, and I can tell you that the family offices in the UAE…

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