Coinbase CEO Brian Armstrong has suggested that Bitcoin may have reached its bottom near $60,000. In a video posted on X, Armstrong expressed his belief that the cryptocurrency has likely stabilized at this level, although he acknowledged the uncertainty of market predictions. He remains optimistic about Bitcoin's long-term prospects, describing it as "the new digital gold" and maintaining a bullish stance. Bitcoin traded above $66,000 on Monday, marking a nearly 3% increase over 24 hours following a geopolitical agreement between the US and Iran. The cryptocurrency had previously dipped to a low of approximately $59,743 on June 5. Armstrong highlighted Bitcoin's four-year halving cycle as a key factor in understanding market trends, noting that Bitcoin is currently about 50% below its October 2025 peak of nearly $126,000. Despite recent price fluctuations, Armstrong emphasized the underlying strength of the crypto market, citing growth in derivatives, stablecoins, and prediction markets.