Coinbase Chief Executive Brian Armstrong believes Bitcoin has already bottomed for the current market cycle and could enter a sustained recovery over the next one to two years.
Armstrong expressed this view during a Bloomberg Television interview on Thursday. He characterized the outlook as his own market assessment rather than a certainty.
Bitcoin traded near $78,000 early Thursday, according to CoinGecko data. The cryptocurrency had declined 1.7% over the previous 24 hours and remained about 38% below its roughly $126,000 all-time high. It had nevertheless recovered from its summer lows before Armstrong’s comments.
Glassnode Data Indicates Easing Selling Pressure
Data from Glassnode showed selling activity declining as Bitcoin approached the $83,000-$86,000 resistance zone.
The company’s seven-day Sell-Side Risk Ratio stood at 7 basis points per day, down from a peak of 16 basis points in August. Glassnode said the decline to less than half the August level indicated that selling pressure had weakened.
Bitcoin also recently diverged from major U.S. equity benchmarks. In a Wednesday research note, Glassnode calculated a 23% gain for Bitcoin across the 21 trading sessions ending Sept. 9, while the S&P 500 and Nasdaq 100 were approximately flat over the same period.
Armstrong Outlines Coinbase’s Priorities for 2027
Armstrong also discussed areas he considers important to Coinbase’s long-term growth.
For 2027, he identified payments, prediction markets, tokenization and agentic finance as four key focus areas for the company.
On payments, Armstrong said stablecoin activity on Base has increased 700% year over year. He also cited a forecast projecting that the stablecoin market will reach $3 trillion by 2030.