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Bitcoin's $77K slide flagged as potential cycle low
Bitcoin advocate and accountant Rajat Soni warned, “Never trust a weekend pump or dump,” as Bitcoin plunged and over $2 billion was wiped from the crypto market.
PlanC: a likely capitulation and buying opportunity
Bitcoin’s roughly 7% decline to about $77,000 on Saturday has prompted some analysts to suggest the move could mark the deepest pullback of this bull run. Bitcoin fell to $77,000 before rebounding slightly — BTC $78,503 — and was trading near $78,690 at the time of reporting, according to CoinMarketCap.
Bitcoin is down 11.44% over the past 30 days.
Prominent on-chain analyst PlanC compared the recent downtrend to past capitulation events, noting similarities to the 2018 bear market low (~$3,000), the March 2020 crash (~$5,100), and the FTX fallout when BTC fell toward $15,500. He wrote on X that there’s a “decent chance this will be the deepest pullback opportunity this Bitcoin bull run,” and suggested the ultimate low could land between $75,000 and $80,000.
Market context and analyst forecasts
The drop leaves Bitcoin roughly 38% below its all-time high near $126,100 reached on Oct. 5. While PlanC and some traders view the $77K swing as a major capitulation and possible buying window, other market voices warn of deeper downside.
Veteran trader Peter Brandt has projected a longer-term target near $60,000 by Q3 2026. Crypto strategist Benjamin Cowen expects the cycle low to likely form in early October but still foresees multiple rallies between now and then. Jurrien Timmer, head of global macro research at Fidelity, suggested 2026 could be a weaker year for Bitcoin, with prices potentially revisiting the mid-$60,000s.
Risk management and trader guidance
Rajat Soni, who flagged the weekend volatility, reminded traders not to overreact to short-term spikes or dumps: “Never trust a weekend pump OR dump. Bitcoin will make a comeback when you least expect it.” For traders and investors, this underscores the importance of disciplined position sizing, setting stop-loss levels, and maintaining a clear cost-basis strategy amid volatile BTC price action.
What this means for investors
Whether the $77K move proves to be the deepest pullback remains uncertain. For long-term crypto investors, the recent volatility may offer accumulation opportunities; for short-term traders, it reinforces the need for careful risk controls. Keep monitoring on-chain indicators, macro liquidity conditions, and institutional flows to gauge whether this is a final capitulation or an early leg in a deeper correction.
Source: cointelegraph
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