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Bitcoin was \u201crejected\u201d from the $80,000 price level, which is its next resistance zone on the way to reclaiming the $100,000 psychological price level.<\/p>\n
The price of Bitcoin (BTC) could bottom out at the $57,000 level in October 2026, despite rallying by more than 29% since the low of about $60,000 in February, according to Bitcoin investor and author Michael Terpin.<\/p>\n
Terpin told Cointelegraph that his forecast is based on the \u201chistorical average\u201d drawdown of about one year from a market cycle top, which was reached in October 2025 when BTC surged to an all-time high above $126,000, to the cycle bottom.<\/p>\n
Bitcoin\u2019s price needs to reclaim the $100,000 level for the bull market to resume, which will likely occur when the price falls below the 200-week moving average, a dynamic and critical support level, he said. Terpin added:\u00a0<\/p>\n
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