Bitcoin Price May Have Hit Rock Bottom, Says Coinbase CEO Brian Armstrong

Bitcoin has seen significant price drops in recent months, but Coinbase CEO Brian Armstrong believes it may have already hit rock bottom. In a Bloomberg video last month, Armstrong stated that 'I personally think we've seen the bottom of the Bitcoin price in this cycle.'

Armstrong's assertion is based on historical patterns, as previous Bitcoin bottoms arrived 924 to 999 days after a halving event, with the next window opening around Halloween 2026. However, some experts caution that calling the bottom of anything can be unreliable and that timing is a weak point in this prediction.

Bitcoin's price peaked near $124,800 on October 6, 2025, before sliding to about $60,100 by June 29, 2026, representing a 51.8% drop. While this decline qualifies as a technical bear market, it is actually less severe than the previous three cycle crashes, which saw drops of 79.9%, 81.9%, and 76.6%

The buyer base has also changed, with U.S. spot Bitcoin exchange-traded products holding about $109.3 billion worth of BTC as of October 2, representing around 6.1% of the maximum supply of 21 million coins.