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BTC 
HYPE Swan Bitcoin CEO Cory Klippsten said Bitcoin may bottom out in October and then rise back to about $130,000 before halving in 2028.
The price of Bitcoin (BTC) exceeded $126,000 in early October 2025, which means that "the market should bottom out in October," Klippsten said. He pointed out that Bitcoin would bottom out about 12 months after previous bull market peaks, but cautioned against extrapolating based on just a few cycles.
Klippsten's forecast for a bottom in October was based on an interview he had in June, when he said that Bitcoin could bottom out earlier than in previous cycles, as long-term holders accumulated a record supply (14.7 million BTC).
In a new interview, Klippsten said that Bitcoin could fall to $57,000 or even $53,000, before quickly recovering and reaching about $130,000 before halving in 2028.
Other analysts are focusing on earlier bottoming out times. Markus Thielen, founder of 10x Research, said that Bitcoin may confirm a bear market bottom in August if the monthly closing price is above $63,000, which will turn the analyst's multiple cycle indicators bullish.
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Altcoins are dead as currency, cryptocurrencies will become part of traditional finance
Klippsten said that altcoins as a competitor to Bitcoin are "basically dead" and believes that the best way out for cryptocurrencies and decentralized finance (DeFi) is to "become part of traditional finance."
When asked which altcoins might outperform the market, Klippsten mentioned Hyperliquid, which he believed would eventually be incorporated into the traditional financial supervision system.
"Hyperliquid is a business that has a token. If it is a centralized business, it will eventually be absorbed by traditional finance and regarded as an exchange or a bank."
According to DefiLlama, Hyperliquid generated $5.9 million in revenue in the past week, ranking by weekly revenue and ranking it as the fifth largest DeFi protocol in the industry. TradingView data shows that Hyperliquid (HYPE) tokens have risen 130% year-to-date, while Bitcoin prices have fallen 28% over the same period.
In a July report, cryptocurrency market maker Wintermute believed that the increasing participation of institutional investors has changed the dynamics of the altcoin market, making the altcoin's rising trend narrower and more selective. Wintermute said liquidity was concentrated in assets favored by institutions, while activity on the market's "long tail" was weakening.
