Coinbase CEO Says Bitcoin Has Bottomed as Halving Cycle Approaches

Coinbase CEO Brian Armstrong believes Bitcoin has already reached the bottom of its current market cycle and could continue rising over the next one to two years as the cryptocurrency approaches its next scheduled halving.

Armstrong made the assessment during a Bloomberg Television interview covering cryptocurrency markets, payments and Coinbase’s expansion strategy. According to Armstrong, His view comes as Bitcoin trades well below its record high but has recovered substantially from its summer lows.

Bitcoin was trading near $78,000 early Thursday, down 1.7% over 24 hours and about 38% below its record high of roughly $126,000.

Bitcoin Bottom and Resistance Zone

Armstrong’s outlook is partly based on Bitcoin’s historical market-cycle structure. He expects the cryptocurrency to have further room to appreciate before the next halving, which is scheduled for 2028.

The recovery has already been significant. According to Glassnode, Bitcoin gained 23% over 21 trading sessions through September 9, while major U.S. stock indexes were broadly unchanged over the same period.

The advance has nevertheless brought Bitcoin into a significant resistance area between $83,000 and $86,000. A sustained move through that range could be important for determining whether the recovery can continue, while failure to overcome the zone could limit near-term momentum.

Glassnode’s data also indicates that selling pressure has eased during the recent recovery. The seven-day Sell-Side Risk Ratio was measured at seven basis points per day, less than half the 16-basis-point peak recorded in August.

A lower realized selling-risk reading indicates that investors are distributing fewer coins relative to Bitcoin’s overall market capitalization. However, the data does not eliminate the potential for resistance near $83,000 to $86,000 to constrain the market if demand does not absorb the available supply.

Coinbase Expands Beyond Bitcoin

Armstrong also used the interview to highlight Coinbase’s broader focus on blockchain-based financial services.

Stablecoin payment activity on Coinbase’s Base network has increased 700% year over year, according to Armstrong. The growth points to increasing use of blockchain infrastructure for payments beyond conventional cryptocurrency trading.

Armstrong also cited projections that the stablecoin market could reach $3 trillion by 2030 as adoption expands across financial services.

Coinbase is consequently prioritizing four areas as it prepares for 2027: payments, tokenization, prediction markets and agentic finance.

The strategy could broaden the company’s business beyond Bitcoin and other cryptocurrency trading by increasing its involvement in payments, tokenized assets and emerging financial applications.

For Bitcoin, however, Armstrong’s bullish assessment remains dependent on the market’s ability to overcome the $83,000-$86,000 resistance area and maintain demand as the next halving cycle approaches.

Writer: Marcus Renfield

Crypto Market Analyst & Onchain Writer

Marcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.

He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.