Corey Klipsten, the CEO of Swan Bitcoin, believes Bitcoin may hit rock bottom in October before bouncing back to around $130,000 in time for the halving event in 2028. He noted that Bitcoin’s price soared past $126,000 in early October 2025, suggesting that a market bottom might be occurring this month.
Klipsten observed that historically, Bitcoin tends to hit its lowest point about a year after its previous bull market peak. However, he advised caution in drawing conclusions based on just a handful of market cycles. His prediction for an October low references an earlier conversation he had in June, where he mentioned that Bitcoin might see a quicker bottom due to long-term holders accumulating a substantial share—specifically, 14.7 million BTC.
Recently, he speculated that Bitcoin’s price could dip to somewhere between $57,000 and $53,000, but with a swift recovery possible, projecting it could reach approximately $130,000 by the anticipated halving in 2028.
Other analysts are also looking at potential early bottoms. For instance, Markus Thielen, the founder of 10x Research, commented that if Bitcoin closes above $63,000 in August, it could confirm a bear market lowest point, which would trigger positive trends in several of the company’s cycle indicators.
Klipsten dismissed the competitiveness of altcoins, suggesting they are “basically dead” when it comes to matching Bitcoin as a form of currency. He believes that the best future for cryptocurrencies and decentralized finance (DeFi) is their integration into traditional finance (TradFi).
When asked if there are any promising altcoins that might outperform the market, he mentioned Hyperliquid, arguing that centralized crypto businesses will eventually face traditional financial regulations. “Hyperliquid is a business and has tokens. If it were a centralized entity, it would likely fold into TradFi and be seen as an exchange or bank,” he explained.
According to data from DefiLlama, Hyperliquid has brought in $5.9 million in revenue over the previous week, making it the fifth top DeFi protocol based on weekly earnings. Interestingly, while the Hyper Liquid (HYPE) token has surged by 130% since the start of the year, Bitcoin’s price has dropped by 28% within the same timeframe.
A July report from cryptocurrency market maker Wintermute highlighted that the increasing involvement of institutional investors has shifted altcoin market dynamics. This change has led to altcoin rallies becoming more limited and selective, with a concentration of liquidity in assets preferred by financial institutions.
