On-Chain Data Challenges Armstrong's Bitcoin Bottom Call Near $60K

As of June 17, on-chain metrics delivered pushback against Coinbase CEO Brian Armstrong’s claim that Bitcoin may have bottomed near $60,000. Earlier in the period, Binance founder CZ described the market as a “cryptocurrency winter” while insisting a delayed super cycle will arrive, and Armstrong reiterated he remains “bullish as ever” with BTC seen as digital gold. Bitcoin rebounded above $66,000 after its June 5 low of $59,743 but stays roughly 50% below the October 2025 peak near $126,000, leaving the floor unconfirmed without capitulation signals.