Bitcoin (BTC) rose as Asian markets opened, climbing above $79,000. However, it subsequently retreated to around $77,600 due to selling pressure, failing to break above $80,000.
Bitcoin’s ability to hold above $75,000 in recent weeks has fueled bullish expectations, but one analyst claims the bottom has not yet been reached.
Leading Bitcoin investor Michael Terpin stated in a recent interview that he expects BTC to bottom out in October at $57,000.
Terpin, who predicted that BTC could bottom out around $57,000 this October, also stated that a recovery to $100,000 does not seem likely within 2026.
Explaining the basis of this prediction, the analyst noted that it typically takes about a year for Bitcoin to bottom out after a cycle peak.
Recalling that Bitcoin reached its peak last October, the analyst, based on historical average peaks and dips, predicted that the bottom would be in October, around $57,000.
Terpin also stated that a bullish reversal and a recapture of $100,000 would be critical, but that this is unlikely to happen this year.
He added that such a recovery would depend on sustained and increasing institutional buying from firms like Strategy, continued net inflows into ETFs, and the absence of large-scale selling during market downturns.
*This is not investment advice.