Coinbase chief executive Brian Armstrong announced that Bitcoin likely found its bottom near the $60,000 mark, citing his “instinct” that the market may have stabilized at that level while emphasizing that certainty remains elusive.
Armstrong’s Outlook
Armstrong reiterated his conviction that Bitcoin functions as “the new digital gold” and confirmed that he remains long the cryptocurrency. He projected that Bitcoin’s price could climb substantially by 2030, despite the recent pullback. The CEO’s comments appeared in a video posted on X on Monday.
Recent Price Action
Bitcoin surged past $66,000 on Monday, registering an approximate 3% gain within a 24‑hour window. The rally followed a dip to $59,743 on June 5, the lowest point since October 2024, before the token recovered. This price movement coincided with news of a diplomatic agreement between the United States and Iran that reopened the Strait of Hormuz.
Market Context
On‑chain analysts cautioned that lingering weak demand and erratic ETF inflows could hinder a durable uptrend, suggesting that the current floor may not guarantee long‑term stability. Investors are closely monitoring how the halving cycle, which historically alternates between bullish and bearish phases, will influence Bitcoin’s trajectory. The broader crypto market remains attentive to regulatory signals and macroeconomic developments that could affect blockchain assets.