Coinbase CEO Brian Armstrong poll suggests most traders expect Bitcoin weakness to continue after BTC slips below $60,000

Bitcoin’s move below $60,000 has intensified a debate over whether the market has already found a floor, with Coinbase CEO Brian Armstrong’s latest online poll indicating that most respondents expect further losses before stabilization. The poll, discussed in a market report published by Yahoo Finance and carried by CCN, asked participants whether they believe Bitcoin has hit its bottom. The majority response, according to the report, leaned toward “no,” implying that recent declines may continue rather than reverse immediately. Several drivers highlighted in the discussion centered on geopolitical and energy-market spillovers. The report attributes part of the near-term bearish tone to US-Iran tensions, which it says have been weighing on risk sentiment. In the same framing, rising oil prices are treated as another macro factor that can pressure broader markets and crypto traders, especially those positioned for steady liquidity conditions. The report also points to market microstructure risks, specifically leveraged liquidations. When traders borrow to amplify returns, a sharp price move can force them to exit positions as margin requirements are triggered, accelerating declines and making any recovery harder until leverage is reduced. In this narrative, the prospect of additional liquidations is presented as one reason that many poll respondents believe Bitcoin has not yet bottomed. Coinbase’s involvement in the discussion matters because it sits at the intersection of retail and institutional crypto trading in the United States. Coinbase provides trading, custody, and other crypto-related services, and its leadership frequently uses these channels to comment on market conditions and user sentiment. A poll shared by its CEO is not a formal forecast, but it can be read as a barometer of how traders in its ecosystem are interpreting the current cycle. There is also a timing and disclosure caveat. The report describes the CEO poll and the factors participants cited, but it does not provide detailed methodology, including how many people voted, whether the pool was representative, or how the poll results were distributed across time horizons. It also does not specify what Coinbase’s own internal view is, beyond the CEO’s participation in the discussion. As with any social poll, the results should be treated as sentiment rather than a quantified trading model. For investors watching crypto markets, the key question remains whether leverage-driven downside is already largely “cleared.” If liquidations are the primary catalyst, then further declines could eventually slow once forced selling exhausts. If instead macro pressure deepens, such as sustained geopolitical risk and broader financial tightening, then the market may remain vulnerable even if near-term liquidation flows cool. The next indicates to watch are changes in volatility and whether BTC regains levels that can reduce the need for forced exits among highly leveraged traders. As of the report date, the only concrete guidance from Coinbase’s leadership is the direction of the poll sentiment: most respondents in the poll expected more downside rather than a quick turnaround. Anything beyond that, including the timing of a potential bottom, was not disclosed in the publication and should be treated as uncertain.

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