Nansen CEO predicts Bitcoin will not drop below $60,000
Nansen founder Alex Svanevik predicts Bitcoin will not fall below $60,000 and suggested that level may be the cycle low, citing Bitcoin as a hedge against central bank money creation.
Alex Svanevik, founder and chief executive of blockchain analytics firm Nansen, said he does not expect Bitcoin to fall back under $60,000 and suggested that level could represent the current cycle low. He linked his view to Bitcoin’s role as a hedge against central bank money creation and said he expects ongoing global monetary expansion to support that floor.
Svanevik made the remarks in a recent interview. Nansen, which he co-founded in 2019 with Lars Bakke Krogvig and Evgeny Medvedev, tracks millions of labeled wallets and analyzes user activity across networks. The company’s data informs his commentary on market flows and structure.
On the industry’s use cases, Svanevik described a shift from speculative trading to tokenizing traditional financial products. He pointed to examples such as tokenized stocks and on-chain indices as signs that blockchains are being used to represent non-crypto assets and financial instruments.
Regarding specific blockchains, Svanevik expressed confidence in Solana’s long-term prospects despite its association with meme coins. He criticized the narrow view that Solana is only for speculative tokens and praised the chain’s business development work. He declined to make a short-term price forecast for SOL.
Svanevik also discussed the recently launched Robinhood chain, noting the platform’s broad user distribution and early traction without a native token. He argued that issuing a token could conflict with Robinhood’s publicly traded stock and said the company can capture value through its equity.
Not all market participants share Svanevik’s outlook. Some investors expect further downside for Bitcoin. One veteran investor has projected a 66% decline from the October 2025 peak of $126,100, a fall that would put Bitcoin in the $40,000 range. Analysts remain split on whether trading around $60,000 marks a cycle low or a pause before another move lower.
Bitcoin has traded near the $60,000 level after several swings this year. Other tokens have shown mixed performance over recent weeks. Svanevik’s comments reflect differing views in the market about price risk and the evolving uses of blockchain technology.
‘I don’t think Bitcoin’s gonna go back below $60,000,’ Svanevik said when outlining his view.
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