Coinbase CEO: Bitcoin May Have Bottomed Around $60,000

June 15 — Coinbase CEO Brian Armstrong said he “intuitively feels” Bitcoin (BTC) has likely wrapped up a consolidation phase around the $60,000 threshold, though he emphasized the market still faces notable uncertainty. In a video posted to social media, Armstrong added that Bitcoin appears to have formed a local bottom near $60,000, noting its four-year halving cycles have historically aligned with market bottom ranges. “I remain long-term bullish on Bitcoin and believe its future price will be drastically higher,” he stated. He referred to Bitcoin as “digital gold” and projected its price could climb meaningfully by 2030. During this recent market stretch, Bitcoin briefly dipped to approximately $59,700 on June 5 before surging above $66,000, driven by macroeconomic positives such as a preliminary U.S.-Iran peace agreement and the reopening of the Strait of Hormuz. The move marked a nearly 3% increase in a 24-hour period. Armstrong’s perspective aligns with analysis from some on-chain analytics firms. CryptoQuant previously noted Bitcoin has entered a historical price range close to its realized price (roughly $53,600), though ETF fund flows haven’t fully stabilized, and demand-side recovery will take additional time. Analysts generally caution that while Bitcoin may be approaching a bottom area, “bottoming out” and “trend reversal” are distinct stages that will need further confirmation from macroeconomic and fund flow data.