Terpin warns Bitcoin could drop to $43,500 before rebound

Michael Terpin predicts Bitcoin may drop to $43,500 before a new bull run, citing insufficient market capitulation and ongoing selling pressure until October.

Michael Terpin, founder of Transform Ventures, forecasts that Bitcoin may experience a notable decline before entering its next bull cycle. He suggests the price could fall to $43,500, which would be a 66% drop from the all-time high of $126,100 reached in October 2025. Terpin argues that the market has not yet seen enough capitulation to confirm a bottom, and that rapid recoveries might not signal the end of the bear phase. His analysis is based on market cycle models related to Bitcoin halvings, and he expects selling pressure to persist until early October. Despite short-term challenges, Terpin remains optimistic about Bitcoin’s long-term prospects, projecting new highs between $180,000 and $300,000 by 2029. The $43,500 level has become a key psychological threshold for investors and could shape market sentiment.