Bitcoin’s recent decline to the $77,000 level has sparked debate among market analysts over whether the cryptocurrency has already experienced its deepest pullback of the current bull cycle. The move came during a volatile weekend session that erased more than $2 billion from the broader crypto market.
Bitcoin Pullback Compared to Past Market Capitulations
Bitcoin fell roughly 7% on Saturday, briefly touching $77,000 before rebounding toward the $78,000–$79,000 range. Over the past 30 days, the asset is down more than 11% and now trades nearly 38% below its October peak of $126,100.
Analyst PlanC suggested the recent decline closely resembles major capitulation phases from previous cycles, including the 2018 bear market low, the March 2020 crash, and the sell-off following the collapse of a major crypto exchange in 2022. According to PlanC, Bitcoin may be forming a significant bottom between $75,000 and $80,000, potentially marking the strongest buying opportunity of the current bull run.
Not all analysts agree the downside is complete. Veteran traders have warned that Bitcoin could still revisit lower levels, with some projecting a move toward $60,000 or the mid-$60,000 range in 2026. Others expect continued volatility but anticipate multiple relief rallies before a final cycle low later this year.
Crypto analyst Benjamin Cowen said ;
Despite differing views, analysts broadly agree that near-term price action will remain unpredictable, particularly during low-liquidity weekend trading.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.