Bitcoin analyst PlanC suggests the recent drop to around $77,000 may represent the deepest pullback of the current bull market. Other market observers, however, warn of potential further downside, with some predicting prices could fall to $60,000 or $65,000 in the coming months.
Bitcoin’s decline of approximately 7% to $77,000 on Saturday could mark the cycle’s low, Bitcoin analyst PlanC stated. This perspective contrasts with other analysts forecasting more downside for the cryptocurrency in future months.
“Decent chance this will be the deepest pullback opportunity this Bitcoin bull run,” PlanC said in a social media post. The asset’s price is down about 38% from its all-time high of $126,100 reached on Oct. 5.
PlanC compared the current trend to major past capitulation events, including the 2018 bear market and the 2020 crash. “There is a decent chance we are going through another major capitulation low as we speak,” he added, suggesting a potential low between $75,000 and $80,000.
Bitcoin advocate Rajat Soni cautioned traders against overreacting to weekend volatility. “Never trust a weekend pump OR dump,” Soni mentioned, adding that Bitcoin often makes a comeback unexpectedly.
Conversely, veteran trader Peter Brandt recently predicted Bitcoin could fall as low as $60,000 by Q3 2026. Crypto analyst Benjamin Cowen said the market cycle low will likely arrive in early October, but anticipates rallies before then.
Jurrien Timmer, Fidelity’s director of global macroeconomic research, said 2026 might be a “year off” for Bitcoin, with prices potentially falling to around $65,000. Bitcoin traded at $78,690 at the time of reporting, its price data according to CoinMarketCap.
