Coinbase's Brian Armstrong says bitcoin may have bottomed at $60,000

2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowCoinbase chief executive Brian Armstrong said his “instinct” is that bitcoin likely bottomed around $60,000, while cautioning that no one can be certain.Armstrong, who called bitcoin “the new digital gold,” said he remains long the token and expects its price to be significantly higher by 2030 despite the recent drawdown.Bitcoin has rebounded to above $66,000 after dipping below $60,000, but on-chain analysts warn that weak demand and unstable ETF flows mean a price floor does not yet guarantee a sustained recovery.Coinbase (COIN) CEO Brian Armstrong believes bitcoin BTC$66,613.63 may have bottomed near $60,000. "My instinct is we probably have bottomed at this point, maybe at the sixty K number, but nobody can say for sure," Armstrong said in a video posted on X on Monday. He added that he remains long bitcoin and expects prices to be significantly higher by 2030. I’m as bullish as ever on Bitcoin, and still long (as always).It’s never as good or bad as it seems. pic.twitter.com/AeRmUJsNt3 Bitcoin traded above $66,000 on Monday, up nearly 3% over 24 hours, after the US and Iran reached a deal to reopen the Strait of Hormuz. The token touched a low near $59,743 on June 5, its weakest level since October 2024, before recovering. Armstrong pointed to bitcoin's four-year halving cycle, which has historically alternated between bull and bear markets at roughly regular intervals, as a framework for reading the current drawdown. Bitcoin is now roughly 50% below its October 2025 all-time high near $126,000. The Coinbase chief also said last week that the drop in bitcoin's price was masking broader health in the crypto market. "Derivatives, stablecoins, prediction markets are all up," he wrote on X on June 5. "It will take some time for this to sink in." Armstrong's bottom call comes with the same caveat the data carries. Onchain analysis firm CryptoQuant noted last week that while bitcoin has entered a historical value zone near its realized price of about $53,600, demand conditions remain deeply negative and ETF flows have not yet stabilized. A price floor and a confirmed recovery are two different things, however, and traders will have to continue macro catalysts before a clearer direction is settled. Related AssetsBitcoin$66,613.633.67%Latest Crypto News 1CoinDesk 20 performance update: Bittensor (TAO) surges 31.9%, leading index higher 25 minutes ago2Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale40 minutes ago3Michael Saylor's Strategy acquires another 1,587 bitcoin for $100 million1 hour ago4Markets cheer U.S.-Iran Breakthrough though Middle East risks, Fed remain in focus1 hour ago5U.S.-Iran deal lifts equities, sends oil lower, while crypto stays wary2 hours ago6Middle East ceasefire, Fed interest-rate decision: Crypto Week Ahead3 hours ago7Trump-linked stablecoin used for bonus payouts at White House UFC contest5 hours ago8Ark Invest bought more than $500 million worth of SpaceX shares on IPO day5 hours ago9Bitcoin traders have a reason to watch Tuesday's BOJ rate decision. Yen shorts are at a nine-year high7 hours ago10Live markets: Bitcoin jumps above $66,000 as short squeeze builds on US-Iran deal hopes8 hours agoLatest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record HighCEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record HighIn May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

Coinbase's Brian Armstrong says bitcoin may have bottomed at $60,000

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