Nansen founder: Bitcoin may not fall below $60,000 again

Cryptocurrencies are moving from "overnight wealth" to "real world": Nansen founder in-depth analysis of industry trends

Nansen founder and CEO Alex Svanevik said that as the industry shifts towards real-world asset tokenization, regulated trading products and broader distribution channels, cryptocurrencies are gradually moving away from their long-standing "overnight wealth" image. On CoinTelegraph Magazine's "Trade Secrets" program, Svanevik pointed out that blockchain is moving from a "toy world" stage dominated by speculation to a more practical era-tokenized stocks and indexed trading based on benchmark indices such as the S & P 500 are becoming a topic of mainstream discussion.

Core Views

Svanevik defines the current shift as cryptocurrencies entering the "real-world era," with tokenization of traditional assets and benchmark transactions becoming key features. He pointed out that Solana's current public narrative centered on memoin was "ridiculous" and emphasized the ecosystem's long-term development potential. Regarding the Robinhood chain, which will be launched on July 1, Svanevik believes it will become a strong contender for Base, but is not expected to issue tokens. Regarding Bitcoin, Svanevik believes the market may be approaching a bottom of about $60,000, while other analysts have different views on the downside.

From "Toy World" speculation to tokenized real assets

Svanevik's core argument is that the evolution of cryptocurrencies is being defined by their ability to support non-cryptocurrencies and similar traditional financial transaction models. In his view, the next phase of the industry will no longer be characterized by isolated retail hype, but by interoperability with widely recognized financial instruments and market structures. He mentioned the growing popularity of tokenized assets and indexed products, arguing that these developments reflect more than just another cycle of speculative demand. Svanevik said that the current "interesting thing" about blockchains is that they create space for non-crypto assets.

Solana's "memin" label hides the bigger picture

While acknowledging that Hyperliquid has attracted attention recently, Svanevik singled out that Solana is one of the blockchain ecosystems with the most long-term potential-despite its reputation for memin. In an interview, he said that the view that Solana is "only suitable for memin" is completely wrong and there is more to it underneath the surface. Svanevik emphasized the "incredible team" behind Solana and believed that business development across the ecosystem was extremely strong. At the same time, he clearly distinguished between ecosystem performance and token price expectations. He expressed optimism that Solana would perform well as an ecosystem, but was not sure what that would mean for SOL prices over the next twelve months-although he admitted that prices should "intuitively" rise if the ecosystem strengthened.

Robinhood Chain: Growth without tokens

Svanevik also discussed the Robinhood chain of Ethereum's Layer 2 network, which was launched on July 1. He believes the project may "rise" to become Base's main competitor, mainly due to Robinhood's distribution advantages. However, he does not believe Robinhood Chain will launch tokens. Svanevik pointed out that if the goal is to attract user adoption and create product growth momentum, tokens may not be necessary. In his view, many projects issue tokens to spark enthusiasm and accelerate early growth-an approach he believes is not suitable for Robinhood's situation. He also raised a practical contradiction: It would be unreasonable for a company that lists major stocks on the Nasdaq to launch tokens. Svanevik commented that value is more likely to flow to existing HOOD stocks than to compete in the company's internal ecosystem through new tokens. "They were able to launch the Robinhood chain without tokens and get a lot of attention. "

Bitcoin: US$60,000 as a potential cycle dividing line

When asked about Bitcoin's prospects, Svanevik said he personally believed the market could be near the bottom. He pointed out that the current level of around $60,000 could represent a cyclical low for Bitcoin. He said in the interview that he did not expect Bitcoin to fall below $60,000-and added that based on his long-term perspective, he expected Bitcoin's role as a hedge against central bank money creation to remain unchanged. He also believes that the broader cycle of monetary expansion will not end anytime soon, making him reluctant to predict deeper declines. However, the market debate continues. The article pointed out that some analysts are divided on whether Bitcoin has reached bottom-Bitcoin rebounded after trading at about $60,000 in early February, fell below that level again, and then basically straightened sideways. Early reports mentioned on the show included comments from veteran investor Michael Terpin, who told CoinTelegraph that Bitcoin could face further declines before hitting bottom. According to Terpin's comments on "Trade Secrets", the asset could eventually fall by about "66%" from its October 2025 all-time high of $126,100-meaning it could fall into the $40,000 range. "We have more pain to go. "The disagreement between Svanevik's" near the bottom "view and Terpin's warning of further declines highlights the key uncertainty faced by traders: whether current price behavior is consolidating near true cyclical lows or just pauses before the next decline.

For readers, the next focus is clear: whether Solana's long-term ecosystem narrative can continue to hold true amid price fluctuations; whether the Robinhood chain can maintain growth without token incentives; and the most immediate question-how Bitcoin will perform near the $60,000 area, as market participants are still debating whether a "bottom" has arrived or has not yet emerged.