Crypto’s ‘Godfather’ Is Shorting Bitcoin, Here’s His Downside Target | Michael Terpin
Speakers
Michael Terpin
— Founder & CEO, Transform Ventures
Summary
Michael Terpin discusses his short-term bearish view on Bitcoin, expecting a drop below $60k, while reaffirming his long-term supercycle target of $1 million by 2033. He also comments on institutional buying, AI tokens, and market manipulation dynamics.
- Terpin is shorting Bitcoin near $83k, expecting lower lows based on cycle patterns.
- He believes the bottom typically takes a year; the current 12-week correction is insufficient.
- He reaffirms his long-term Bitcoin supercycle target of $1M by 2033.
- He notes MicroStrategy's buying provides a floor but does not prevent further declines.
- He mentions AI tokens (VVV, TAO) as potential outperformers but does not recommend a specific trade.
- He discusses Wall Street manipulation and the Jane Street 10am dump theory.
Trade Ideas
Short Bitcoin, expect drop below 60k.
Bitcoin is likely to decline from current levels around $83k because the cycle bottom typically takes about a year after the initial high, and multiple indicators (coin days destroyed, 35-month cycle, 23-month post-ATH pattern) point to an October low around $42-55k. Institutional buying from MicroStrategy and ETFs provides a floor but does not prevent a drop below $60k to the 200-week moving average. Terpin's fund is actively shorting, expecting to buy back in the $50-60k range.
Up Next
This The David Lin Report video, published May 11, 2026, features Michael Terpin discussing BTC. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Michael Terpin · Tickers: BTC