Bitcoin Bottom In? Coinbase CEO Armstrong Turns Bullish Ahead Of BOJ Decision

The Bank of Japan is expected to hike rates to 1% from 0.75% on Tuesday, the highest since 1995, with over 115,000 speculative yen shorts, the highest since November 2017.

• Coinbase CEO Brian Armstrong said he was "long on Bitcoin" and expects a "much higher" price by 2030.
• Analyst Benjamin Cowen said "time-based capitulation" matters more than price, as the decline occurs around week 35 of a 50–60-week cycle.
• A hawkish surprise might unwind yen-funded carry bets and hit Bitcoin, repeating the BOJ's January 2025 increase, which dropped BTC 25% to 31%.

Bitcoin (BTC) has likely bottomed, said Coinbase Global Inc. (COIN) Chief Executive Officer Brian Armstrong, even as traders are bracing for a Bank of Japan (BOJ) rate decision that could affect crypto markets this week.

Armstrong said in an interview on Friday that his "instinct is we probably have bottomed at this point, maybe at the 60k number," while cautioning that "nobody can say for sure." He reaffirmed that he remained "long Bitcoin, just like always" and described the asset as "the new digital gold," predicting a "much higher" price by 2030.

Armstrong added a bullish tone to a market that has been grinding lower through 2026. But not everyone believes the bottom is in. Benjamin Cowen, founder of Into the Cryptoverse, said that the more important signal is not price but “time-based capitulation.”