Bitcoin bounced off $58,000 earlier this year, and Nansen CEO Alex Svanevik said at the time it would never trade below $60,000 again. With Bitcoin now at $86,090, he is standing by that call, and his reason has little to do with Bitcoin itself.
The prediction
Asked whether Bitcoin could slip back under $60,000 or whether the bear market is over, Svanevik did not hedge. “I don’t think Bitcoin’s ever going below 60K again. And I will stand by that prediction,” he said.
Bitcoin is trading at $86,090.25, up 1% over the past 24 hours and 3.6% over the week. That puts it about 43% above the floor he has drawn.
Why he thinks the floor will hold
Svanevik’s case comes down to one idea: central banks cannot stop printing money.
- Higher lows on the chart: Each major Bitcoin bottom has formed above the previous one. He reads that pattern as currency debasement showing up in the price.
- No way to stop it: He pointed to central banks, treasury departments and government spending worldwide. “I don’t think there’s any way to control this,” he said.
- Fixed supply: Bitcoin is capped at 21 million coins, and many of those are already lost for good.
“It’s not necessarily because Bitcoin on its own is so amazing,” Svanevik said. “It’s just that fiat is the opposite of amazing.”
No year-end price target
Despite his confidence in the $60,000 floor, Svanevik refused to say where Bitcoin or Ethereum will finish 2026. Any short-term number, he said, would be made up.
He named the geopolitical situation, Treasury bills and sharply rising interest rates as reasons the next three months are hard to call. He sees all three as further signs of debasement.
The risk he is watching: AI
Svanevik flagged one threat to all markets, including crypto. He said he had seen an unverified chart circulating on X suggesting revenue growth at a leading AI company had flattened, and added that he hoped it was wrong.
If the AI trade stalls, he warned, the effects could spread across markets.
Where he is most bullish
Svanevik said tokenized stocks excite him more than short-term Bitcoin moves. He expects them to benefit layer 1 networks such as Solana, and pointed to Hyperliquid, where traders are already active in assets such as oil and other commodities.
He credited a “very pro-blockchain” SEC and CFTC in the US for making this possible. His second big theme is AI-driven “agentic” trading, an area he said Nansen is spending a lot of time on.
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