BTC may bottom at $57K in October, $100K recovery unlikely this year

Prominent Bitcoin investor Michael Terpin projects that BTC could bottom out around $57,000 this October. In an interview with Cointelegraph, Terpin explained that it typically takes about one year for Bitcoin to establish a bottom following a cycle peak. Based on last October's high and historical average drawdowns, he anticipates the floor will be near the $57,000 mark. Terpin also noted that while reclaiming $100,000 is critical for a bullish reversal, he considers it unlikely to occur this year. Such a recovery would depend on sustained institutional buying from firms like Strategy, continued net inflows into ETFs, and the absence of major sell-offs during market dips, he added.