Bitcoin Price Slides as Coinbase CEO Calls Cycle Bottom

Bitcoin fell 3.3% on Thursday, slipping below the $77,000 level before briefly recovering above it later in the session.

Armstrong’s Bottom‑of‑Cycle View

In a Bloomberg Insight interview, Coinbase chief executive Brian Armstrong said he believes the cryptocurrency has already hit the bottom of its current cycle and will begin a gradual upward trend over the next one to two years as the next halving approaches.

Market Context

The price dip coincided with the U.S. Labor Department reporting a producer‑price index rise to 5.4%, higher than expected, and political speculation about potential $5,000 stimulus checks if Republicans win the November midterms.

Broader Crypto Trends

Armstrong highlighted growth in areas beyond Bitcoin, noting that stablecoin payments, tokenization, “agentic finance,” and prediction markets are expanding rapidly. He said Coinbase’s prediction‑market business is up about 100% quarter over quarter.

Regulatory Outlook

Armstrong expressed optimism about upcoming digital‑asset regulation, referencing the CLARITY Act and suggesting a decision could come within weeks.