Coinbase CEO: Bitcoin may have bottomed out around $60,000

According to CoinDesk, Coinbase CEO Brian Armstrong stated that he "intuitively believes" Bitcoin (BTC) may have completed a phase of bottoming out around $60,000, but emphasized that there is still uncertainty in the market. In a video posted on social media, Armstrong mentioned that Bitcoin may have formed a phase low around $60,000 and referred to the historical four-year halving cycle, which typically corresponds to market bottom ranges.

He stated, "I still have a long-term bullish outlook on Bitcoin and believe the price will be significantly higher in the future." He referred to Bitcoin as "digital gold" and indicated that by 2030, the price could be far above current levels.

In this round of market activity, Bitcoin briefly fell to about $59,700 on June 5, and then rebounded to above $66,000, driven by macro-positive factors such as the preliminary peace agreement between the U.S. and Iran and the reopening of the Strait of Hormuz, with a 24-hour increase of nearly 3%. Armstrong's views resonate with those of some on-chain analysis firms.

CryptoQuant previously pointed out that Bitcoin has entered a historical value range close to its realized price (about $53,600), but ETF capital flows have not yet stabilized completely, and the demand side recovery will still take time. Analysts generally believe that although the price may be close to the bottom range, "bottoming out" and "trend reversal" are still two different stages that require further confirmation from macro and capital flow data.