TL;DR:
- Armstrong said his gut tells him bitcoin likely bottomed near $60,000, though he acknowledged no one can be certain.
- The Coinbase CEO pointed to the four-year halving cycle as his reference framework and declared himself bullish, expecting higher prices by 2030.
- CryptoQuant warns that, although bitcoin entered a historically valuable zone, demand conditions remain deeply negative and ETF flows have not stabilized.
Brian Armstrong, CEO of Coinbase, stated that his “gut” tells him that bitcoin likely found its bottom near $60,000, though he clarified that no one can be certain about it. The statement was made in a video published on the social network X, in which he also expressed that he remains bullish on bitcoin and expects significantly higher prices by 2030.
“I think bitcoin is the new digital gold“, he added in the same message.
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
— Brian Armstrong (@brian_armstrong) June 15, 2026
Armstrong Uses the Halving as a Compass
Armstrong based his reading on the four-year halving cycle, which has historically marked alternating bull and bear markets at regular intervals. Bitcoin has accumulated a drop of approximately 50% from its all-time high in October 2025, when it reached $126,000. BTC had recorded a low of $59,743 on June 5, its lowest level since October 2024, before recovering and trading back above $67,000 on Monday, driven in part by the agreement between the United States and Iran to reopen the Strait of Hormuz.
The executive had also noted last week that the drop in bitcoin’s price concealed a signal of health in the market. “Derivatives, stablecoins and prediction markets are all up“, he wrote on X. “It will take time for this to be absorbed.”
The Distance Between a Bottom and a Recovery
Armstrong’s optimistic analysis has, of course, its counterweights. On-chain analytics firm CryptoQuant noted last week that, while bitcoin entered a historically valuable zone near its realized price of approximately $53,600, demand conditions remain deeply negative.
ETF flows have not stabilized either, suggesting that the market has still not consolidated a clear direction. A price bottom and a confirmed recovery are, as the on-chain analysis itself points out, two distinct phenomena that do not necessarily occur simultaneously.
