Bitcoin has been “rejected” from the $80,000 price level, which is its next resistance zone on the way to recapture the psychological price level of $100,000.
The price of Bitcoin (BTC) could fall to $57,000 in October 2026, despite rising more than 29% from a low of around $60,000 in February, according to Bitcoin investor and author Michael Terpin.
Terpin told Cointelegraph that his forecast is based on a “historical average” of about a year of decline from the top of the market cycle, which was reached in October 2025 when BTC rose to an all-time high above $126,000, to the bottom of the cycle.
The price of bitcoin needs to return to the $100,000 level for the bull market to continue, which is likely to happen when the price falls below the 200-week moving average, a dynamic and critical support level, he said. Terpin added:
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