Lawrence Jengar
Apr 26, 2026 22:37
Crypto investor Michael Terpin forecasts Bitcoin’s bottom at $57K in late 2026, citing historical price cycles and macroeconomic pressures.
Bitcoin’s (BTC) price could see further downside, bottoming out around $57,000 by October 2026, according to crypto investor and author Michael Terpin. The prediction, shared with Cointelegraph, is based on historical price patterns that suggest a typical market cycle drawdown of about one year following a peak.
Terpin pointed to Bitcoin’s last all-time high of over $126,000 in October 2025 as the market cycle top. He expects the current downturn to continue until BTC finds support near $57,000, a level that aligns with previous cycle bottoms.
Key Levels to Watch
Bitcoin is currently trading at approximately $77,987, following a 29% rally from its February low of $60,000. However, analysts warn that the ongoing rally could be a “fake out.” For the next bull run to materialize, Terpin argues that Bitcoin must reclaim the $100,000 threshold, a psychological and technical milestone. He notes that achieving this would require strong ETF inflows and sustained buying from major players like Michael Saylor’s MicroStrategy, combined with stable macroeconomic conditions.
“There’s certainly a chance of $100,000 this year, but it’s unlikely without a confluence of supportive factors,” Terpin added.
Macroeconomic Pressures Weigh on Crypto
Bitcoin’s current price action is influenced by broader economic forces, including geopolitical risks and tight liquidity conditions. The war in Iran, volatile oil prices, and unchanged U.S. Federal Reserve interest rates have created a challenging environment for risk assets.
Further complicating the outlook, Federal Reserve Chair Jerome Powell is set to oversee his final Federal Open Market Committee (FOMC) meeting this week, with traders overwhelmingly expecting no change in interest rates. “The rate decision is almost certainly a hold flat,” remarked market analyst Nic Puckrin.
Short-Term Risks
Crypto market analysts, including Matthew Hyland, remain cautious about Bitcoin’s short-term trajectory. Hyland noted a lack of “euphoria or interest” from investors, suggesting skepticism about the rally’s sustainability. He anticipates another leg down for BTC by October, potentially to levels as low as $73,000.
Meanwhile, technical indicators like the 21-week exponential moving average (EMA) continue to act as resistance. If this trend persists, Bitcoin could retrace further, with some projections pointing to a short-term support zone around $65,710, according to analyst Rekt Capital.
While Bitcoin’s long-term potential remains a focal point for investors, the road to recovery could be prolonged. Traders should closely monitor critical support levels and macroeconomic developments as the year unfolds.
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