Summary
- Brian Armstrong, CEO of Coinbase, said crypto fundamentals are stronger than ever.
- Coinbase’s head of Institutional Strategy said market infrastructure continues to advance even in a down cycle, and that the crypto market still appears resilient.
- Bitcoin and Ethereum rose to $71,809.78 and $2,088.5, respectively, showing a strong price rally.
Forecast Trend Report by Period
Brian Armstrong, CEO of Coinbase, said “the fundamentals of crypto are stronger than ever.”
Armstrong made the remarks on X on the 4th (local time).
Earlier, John D’agostine, head of Institutional Strategy at Coinbase, also wrote on X the previous day (the 3rd) that “even in a down cycle, (crypto) market infrastructure continues to advance,” adding that “despite sharp swings in market volatility and investor sentiment, the crypto market still appears resilient.”
Bitcoin (BTC), the bellwether cryptocurrency, surged on the day to top $71,000. According to CoinMarketCap, as of 7:10 p.m., bitcoin was up 7.97% from the previous day at $71,809.78. That is a 9.51% gain from a week earlier.
Ethereum (ETH) also reclaimed the $2,000 level. As of 7:10 p.m., CoinMarketCap showed ether up 7.22% on the day at $2,088.5.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
