Is the Bitcoin Bottom Already In at $57,000?

Two research teams say Bitcoin's worst days are already behind it, but derivatives traders and ETF holders sitting near breakeven tell a very different story about what comes next.

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Two research teams, Nansen and Bitget Wallet, believe Bitcoin (CRYPTO: BTC) may have already bottomed out after dropping to $57,717 in late June 2026, its lowest price in 21 months. Both teams disagree with the common notion that October typically marks Bitcoin’s turning point.

Since then, Bitcoin has risen to $82,969 as of October 8, which is about 44% higher than that June low. However, it has slipped 1.3% over the past week and remains 34% below its all-time high of $126,080. So, is the Bitcoin bottom really in at around $57,000? What might confirm that?

Nansen and Bitget Wallet Reject October as a Bitcoin Bottom Signal

Many traders consider October as Bitcoin’s strongest month, with some even pointing to a specific day as the low point. Jake Kennis, a senior research analyst at Nansen, explains why this perspective might be misleading.

“Bitcoin has posted a median October return of roughly 14% since 2013, with 10 of the past 13 Octobers finishing positive. However, positive monthly returns do not establish when during the month Bitcoin typically bottoms or suggest that October 5th itself is a reliable turning point.”