Michael Saylor, a Bitcoin investor and author, says Bitcoin (BTC) may bottom at $57,000 in October 2026, despite having rebounded more than 29% since its low of around $60,000 in February.
Teppan told Cointelegraph that his prediction is based on a historical average drawdown of about one year from the market cycle peak to the cycle bottom; this peak occurred in October 2025, when BTC surged to a record high of over $126,000.
He stated that Bitcoin’s price needs to reclaim the $100,000 level for the bull market to restart; this is likely to occur after the price falls below the dynamic and critical support of the 200-week moving average. Tepin added:
It’s certainly possible this year to reach $100,000, but the likelihood is low. It would require strong ETF buying pressure, combined with what Michael Saylor is already doing at Strategy, along with no liquidations triggered by sharp downturns.Michael Terpin expects Bitcoin to find support around $57,000. Source: TradingView
This prediction comes as Bitcoin price hovers around $77,987, with crypto assets still under pressure due to ongoing oil price volatility, the Iran conflict, and insufficient liquidity, while U.S. interest rates remain unchanged.
Analysts say the current Bitcoin rally may be a false move.
According to the CME FedWatch tool, 99.5% of traders expect no rate cut ahead of this week’s Federal Open Market Committee (FOMC) meeting.
Market analyst Nic Puckrin said: "Jerome Powell’s upcoming FOMC meeting on Wednesday will almost certainly be his last as Fed Chair. The interest rate decision is almost certain to remain unchanged." Jerome Powell’s term as Fed Chair ends next month.
Cryptocurrency market analyst Matthew Hyland believes that during Bitcoin's rally since February, crypto market investors have shown little "frenzy or interest," suggesting they view the rally as limited and anticipate a return to downward trends.
He said on Saturday: "In my view, the more likely consensus is that BTC will see another dip by October." According to Cointelegraph analysts, Bitcoin's price could also drop to the $73,000 level in the short term.
If the 21-week exponential moving average (EMA) continues to act as a resistance zone for Bitcoin’s price, the price may also be forced to retreat to approximately $65,710, Rekt Capital said.