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BTC Coinbase CEO: Bitcoin has reached a bottom and may face a rise before the next halving.
Coinbase CEO Brian Armstrong believes that Bitcoin has established the bottom of the current cycle and is expected to achieve price increases before the next scheduled halving event. Bitcoin has gained a cumulative 23% over the past 21 trading days, while selling pressure has eased near the key resistance range of $83,000 to $86,000 closely watched by traders.
As Coinbase focuses on asset tokenization, predictive markets, payments and agency finance in pursuit of future growth, stablecoin payments on the Base network grew by 700% year-on-year.
Bitcoin may maintain an upward trend in the next year or two
Coinbase CEO Brian Armstrong said that Bitcoin has reached the lowest point in the current market cycle. According to him, Bitcoin may show an upward trend for one to two years before the next scheduled halving event occurs. He made this point in an interview with Bloomberg Television, where he discussed the cryptocurrency market, payments business and Coinbase's expansion priorities.
Bitcoin was trading at about $78,000 early Thursday morning, down 1.7% in 24 hours and still about 38% below its record high. The record high, near $126,000, remains the core benchmark for measuring the strength of Bitcoin's recovery.
Despite this gap, Armstrong believes the market structure is constructive enough to support continued price appreciation in the upcoming cycle.
Selling pressure weakens near the main resistance area
Bitcoin has rebounded sharply from summer lows and outperformed major U.S. stock indexes during the rebound. According to Glassnode data, Bitcoin rose 23% in the 21 trading days ending September 9, while the overall stock market was basically flat. However, Bitcoin currently faces an upward resistance zone of $83,000 to $86,000, which may determine the next direction of the recovery.
Glassnode also found that during the recent rally, selling pressure weakened as Bitcoin approached this technically important range. Its seven-day daily average Sell-Side Risk Ratio was seven basis points, down from a peak of 16 basis points in August.
The low realized sell risk suggests that investors are selling less coins relative to the total market value of Bitcoin. Still, unless demand can absorb available supply in that range, resistance between $83,000 and $86,000 could limit momentum.
Coinbase focuses on diversified growth areas
Armstrong also highlighted Coinbase's growth beyond Bitcoin, particularly through the stablecoin payments business running on its Base network. He reported that stablecoin payment activity on Base increased by 700% year-on-year, highlighting the expansion in the use of blockchain-based payments.
In addition, the predictions cited by Armstrong show that by 2030, the stablecoin market will reach US$3 trillion, a trend that will continue to expand as it becomes popular in the financial services sector. Therefore, Coinbase lists payments, tokenization, predictive markets and agency finance as its four key business areas leading to 2027.
These segments are expected to diversify revenue while strengthening Coinbase's position in digital assets, consumer finance and institutional market infrastructure. For Bitcoin, Armstrong's forecast ultimately depends on whether buyers can regain resistance and maintain confidence throughout the halving cycle.
