Bitcoin's Cycle Bottom Is Above $64,000, Nansen Founder Says
Nansen founder Alex Svanevik argues that Bitcoin has found its cycle bottom above $64,000, pointing to expanding money supply and BTC's role as a debasement hedge.
Alex Svanevik, founder of blockchain analytics firm Nansen, believes that Bitcoin is unlikely to drop back below $60,000 again. He sees the current area above $64,000 as the floor of the current market cycle.
The argument rests on a macro outlook: central banks will continue to pump liquidity into the system, expanding money supply. According to Svanevik, that trend reinforces Bitcoin’s appeal as a hedge against currency debasement, helping to underpin prices at these levels.
With Bitcoin consolidating near the $64,000 mark, the statement aligns with a broader narrative among some analysts that the recent correction has run its course. Svanevik’s view echoes calls from other market participants who expect sustained monetary easing to support risk assets, including digital gold.
Source: ForkLog