Bitcoin Bottom Predicted for October 2026 Amid Historic Low Indicators

Fidelity's analysis suggests that Bitcoin may be nearing its bottom in October 2026 as key on-chain indicators hit historic lows. Despite short-term financial pressures, stable hash rate and increasing share of long-term holders indicate a deep accumulation phase.

The 'Yardstick' metric, which measures the relationship between Bitcoin's network market value and its transaction processing speed and energy consumption, has reached historical lows. This means that Bitcoin's price is trading at a significant discount to miners' energy costs, a condition that has persisted for 76 out of the past 92 days.

Data compiled by Woofun AI shows that the network's hash rate has declined by only 22% from its peak, indicating operational efficiency and resilience. Historical comparisons indicate that prior accumulation phases featured undervaluation periods lasting approximately 300 days, whereas the current bear market has already endured 203 days.