Silicon Valley investor Jason Calacanis has issued a warning to sell Bitcoin, predicting a decline to $57 000 within the next 12 months. This forecast represents a nearly 29% drop from the price of $79 774 observed at the time of his statement. Calacanis further claimed that Bitcoin will not reach another all-time high, characterizing the network as stagnant.
Market data shows Bitcoin has declined approximately 37% from its October 2025 peak of nearly $126 200. US spot Bitcoin ETFs experienced outflows of approximately $773 million between October 22 and October 23, though inflows recovered by about $110 million on October 26. Glassnode estimates the average purchase price for these ETFs is near $81 500.
The performance gap between sectors is notable, with semiconductor stocks gaining roughly 62% over the past year, while Bitcoin lost 30%. Despite this, Bitcoin maintains a positive correlation with the Nasdaq, with a 90-day correlation coefficient of 0.38 as of October 25. Calacanis's own investment in the AI-linked cryptocurrency Bittensor has also seen a 40% decline over the year.
Contrasting views exist in the market, as Alex Thorn of Galaxy Digital suggests Bitcoin may have bottomed in June. Thorn projects a potential recovery toward $125 000, provided that long-term selling pressure subsides. He noted that this bullish outlook would be invalidated if the price remains below approximately $76 540.
