Bitcoin Floor Established at $60,000 Says Nansen Founder
Alex Svanevik, founder and CEO of blockchain analytics firm Nansen, believes Bitcoin has found a permanent floor at $60,000. In an interview on Cointelegraph Magazine's 'Trade Secrets' show, Svanevik stated that he doesn't think Bitcoin will trade below this level again, calling it a structural line in the sand for the market.
Svanevik's conviction rests on Bitcoin's role as a hedge against central bank money creation. He argued that the global monetary expansion cycle is not ending anytime soon, which should keep a bid under the asset. This call comes at a tense moment for traders, with Bitcoin having briefly touched $60,000 in early February and currently locked in a sideways grind.
However, not everyone shares Svanevik's optimism. Veteran crypto investor Michael Terpin warned that the market still has further to fall, projecting that Bitcoin could ultimately decline around 66% from its October 2025 all-time high of $126,100, which would drag the price into the $40,000 range.