{
  "id": 1042464,
  "title": "Bitcoin could bottom in October, altcoins are ‘basically dead,’ Swan CEO says",
  "url": "https://urgent.news/2026/08/15/bitcoin-could-bottom-in-october-altcoins-are-basically-dead-swan-ceo",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-15T12:57:58.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/markets/bitcoin-bottom-october-altcoins-basically-dead-swan-ceo"
  },
  "original_language": "en",
  "account": "Bitcoin price peaked above $126,000 in early October 2025, leading Swan Bitcoin CEO Cory Klippsten to predict the market bottoming in October, according to Cointelegraph. Klippsten argued that Bitcoin typically bottoms about 12 months after each previous bull market peak. His prediction for an October bottom is based on the accumulation of a record share of Bitcoin supply by long-term holders, totaling 14.7 million BTC. In a recent interview, Klippsten further suggested that Bitcoin could drop to $57,000 or even $53,000 before a swift recovery, ultimately reaching around $130,000 prior to the 2028 halving. Other analysts, like Markus Thielen of 10x Research, have proposed an earlier bottom in August with a monthly close above $63,000, turning several of the firm's cycle indicators bullish. Klippsten dismissed altcoins as \"basically dead\" as competitors to Bitcoin, stating that the ideal outcome for crypto and decentralized finance (DeFi) is to integrate into traditional finance (TradFi). He highlighted Hyperliquid as an example, arguing that centralized crypto businesses will eventually be absorbed by traditional finance regulation. Hyperliquid's revenue of $5.9 million in the past week made it the fifth-largest DeFi protocol by weekly revenue, with its HYPE token up 130% year-to-date. However, Bitcoin's price fell 28% during the same period.",
  "summary": "Klippsten said Bitcoin could bottom about a year after its previous peak and argued that crypto’s best outcome is to become part of TradFi.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}