Bitcoin Price Slides as Coinbase Boss Calls the Cycle Bottom

Bitcoin’s price has trended below the $77,000 range on Thursday, and it has lost 3.3% over the last day. The downtrend picked up when the U.S. Labor Department published the U.S. producer prices at 8:30 a.m., and PPI jumped to 5.4%, hotter than expectations. Alongside this, U.S. President Donald Trump has hinted at $5,000 stimulus checks for Americans if Republicans win the midterms in November. By 10:55 a.m., BTC’s price had climbed back above $77,000, but the path of least resistance still appears tilted to the downside.

Armstrong Says Bitcoin Has Already Found Its Bottom

Amid all this action, Armstrong sat down to do an interview with Haslinda Amin, and he believes bitcoin has already found its bottom. He expects bitcoin’s price to gradually move higher over the next year or two as the market works its way toward the next halving.

“I personally think we’ve seen the bottom of the bitcoin price in this cycle,” the Coinbase boss said during the show. “It’s going to start to trend up over the coming year or two as we reach the next halving event,” he added.

Armstrong also noted that the crypto industry is no longer entirely dependent on what bitcoin’s price is doing. Even while bitcoin has struggled, Armstrong says other corners of the industry have been growing quickly. “Crypto is much bigger than just bitcoin now. It is updating every aspect of the financial system,” he explained. He further noted that Coinbase is “bullish on stablecoin payments.”

Armstrong stated:

“It’s one of the key trends that I’m excited about.”

Armstrong Gives Stablecoins, Tokenization, and Prediction Markets Attention

He also talked about tokenization and what he calls “agentic finance” as areas gaining serious traction. Armstrong also believes strongly in the prediction market trend, and he disclosed that Coinbase’s prediction markets have been growing about 100% quarter over quarter. “Prediction markets and then finance, I’d say those four are the biggest trends that I have a conviction on going into 2027,” Armstrong remarked.

To crypto supporters wondering whether or not the bear market is over, Armstrong’s confidence may be considered encouraging. The growth in many of the sectors he discussed has become a firm reality, and these innovations are not going away any time soon. As for his bitcoin outlook, the Coinbase founder maintained that “bitcoin is like digital gold,” though that conviction does not necessarily mean BTC’s price has found its bottom.

Armstrong also quickly touched upon the CLARITY Act, and he also seemed extremely positive about digital asset regulation pushing through. “We’ll either get it from the Senate or from the regulators, I think, in the next week or two,” Armstrong said.