Coinbase CEO Brian Armstrong has identified trader psychology as the primary driver behind Bitcoin's recent price decline, rather than any fundamental issues. Speaking at the World Liberty Forum in Lisbon, Armstrong dismissed concerns over potential changes in U.S. Federal Reserve leadership and the threat of quantum computing, instead highlighting profit-taking and crowd psychology as key factors. This perspective aligns with historical patterns where asset prices correct after significant rallies due to natural investor behavior. Armstrong emphasized Bitcoin's strong fundamentals, noting its unmatched performance over the past decade compared to traditional assets. He pointed to Bitcoin's robust network hash rate and continued institutional interest, such as applications for U.S. spot Bitcoin ETFs, as evidence of its enduring strength. Coinbase's ongoing stock buyback program and Bitcoin purchases further demonstrate confidence in the asset's long-term value, suggesting the current downturn is a typical market cycle phase rather than a fundamental breakdown.