Coinbase’s Brian Armstrong Sees Potential Bitcoin Bottom Around $60,000 Zone

Armstrong said his view is that Bitcoin may already be forming a market bottom, pointing to its long-running four-year cycle that has historically aligned with major lows.

Coinbase (COIN) CEO Brian Armstrong suggested Bitcoin (BTC) may have established a floor around the $60,000 level.

“My instinct is we’ve likely bottomed here, maybe in the $60K range, but nobody can say with certainty,” Armstrong said in a video posted on X on Monday. He added that he remains bullish on Bitcoin and expects significantly higher prices by 2030.

He also described Bitcoin as “the new digital gold.”

Bitcoin traded above $66,000 on Monday, up nearly 3% over 24 hours, after news that the U.S. and Iran reached an agreement to reopen the Strait of Hormuz. Earlier in June, BTC had fallen to around $59,743 on June 5, its lowest level since October 2024, before rebounding.

Armstrong pointed to Bitcoin’s four-year halving cycle—historically associated with alternating bull and bear markets—as a framework for understanding the current pullback. The asset remains roughly 50% below its October 2025 peak near $126,000.

Last week, the Coinbase CEO also said the recent price decline is obscuring broader strength across crypto markets. “Derivatives, stablecoins, prediction markets are all up,” he wrote on X on June 5. “It will take time for that to be reflected.”

Still, his view on a possible bottom comes with clear caveats.

On-chain analytics firm CryptoQuant noted that while Bitcoin has entered a historical value zone near its realized price of about $53,600, demand conditions remain weak and ETF inflows have not yet stabilized. A potential floor in price does not necessarily confirm a sustained recovery, leaving markets still dependent on macro signals for direction.