Coinbase (NASDAQ:COIN) CEO Brian Armstrong on Tuesday polled his followers on whether Bitcoin (CRYPTO: BTC) has bottomed—56% have thus far said no.
What Did Armstrong’s Poll Actually Show?
Armstrong posted a simple two-option poll — “Is the bottom in?” and the answer leaned bearish.
With 43.7% voting yes and 56.3% voting no, the majority of respondents remain unconvinced that crypto has found its floor.
The poll landed alongside data showing Bitcoin tweet volume has dropped to roughly 130,000 weekly mentions and Ethereum (CRYPTO: ETH) to around 40,000, both at 12-month lows that match 2020 levels, when institutional crypto did not yet exist.
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Why Does The Social Chatter Drop Matter?
The tweet volume comparison to 2020 is what makes this notable. Back then, Bitcoin had no spot ETFs, no corporate treasury allocations, and no meaningful Wall Street presence.
Today all three exist, yet retail attention has round-tripped to that same baseline.
That creates an unusual split. Institutional involvement has moved in one direction, with tokenization dominating conference agendas and traditional finance press releases, while retail engagement has moved in the opposite direction entirely.
Low tweet volume has historically coincided with price stagnation or drawdowns, though there is a case that infrastructure development no longer needs the same wave of public attention that drove prior cycles to sustain itself.
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Where Does Bitcoin Stand Technically?
Bitcoin’s chart remains in a downtrend structure with the 20-day SMA at $61,930 below the 50-day at $64,300, and the 50-day sitting well below the 200-day at $73,624.
The death cross in place since November 2025 keeps rallies running into overhead supply as price approaches those moving averages.
RSI sits at 50.12, a neutral reading that signals choppy two-sided trade rather than trend acceleration in either direction.
The June swing low followed by a more stabilized momentum profile into July sets up a key test: whether Bitcoin can form a higher low here or prints another lower high below the May swing high.
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Key levels for Bitcoin:
- $61,930 — 20-day SMA acting as immediate overhead resistance
- $64,300 — 50-day SMA where counter-trend rallies have stalled
- $70,618 — 100-day SMA marking longer-term resistance above
Image: Shutterstock
