Bitcoin Bottom Debate: Armstrong's Poll Sparks Discord Among Crypto Community

Coinbase CEO Brian Armstrong sparked debate over Bitcoin's direction by asking if it has already reached its market bottom. In a poll on X, he asked users to share their thoughts, and thousands of votes came in with a split result.

The poll showed that 55.6% of those who voted answered 'No', while 44.4% believed $BTC had already bottomed out. Armstrong clarified in a follow-up post that the survey was specifically about Bitcoin, pointing to growing adoption in other areas like perpetual futures trading and tokenized real-world assets.

The replies were also split along the same lines as the vote, with some users agreeing that the bottom is in, while others argued that it's too early to tell. Market watcher Our Crypto Talk predicted a 'very high chance' of $BTC returning to the $50,000-$55,000 range before any real recovery.

On-chain data, however, paints a more balanced picture. According to XWIN Japan's analysis, Bitcoin is no longer in an euphoric phase, with valuations cooling and investor optimism fading without reaching outright capitulation.