Bitcoin’s recent dip into the $75,000–$80,000 range may end up being the last major pullback of this bull market, according to crypto analyst PlanC. The market watcher believes there’s a “decent chance” that this area could serve as the cycle bottom, offering what might be the deepest buying opportunity before the next leg higher.
At the time of writing, Bitcoin was trading in a 24-hour range between $77,082 and $83,426. Even after some short-term bounces, the world’s largest cryptocurrency remains about 37.8% below its all-time high of $126,080, which was set on Oct. 6, 2025. The broader trend has also been rough for investors, with BTC down 6.0% over the past day, 11.6% over the last week, and 23.5% over the past year.
PlanC points to history to back up the idea that the current pullback could be close to done. In previous Bitcoin bull markets, corrections in the range of 35% to 40% were not unusual before prices found support and resumed their upward trend. From that perspective, a move into the mid-$70,000s would fit neatly within the typical drawdowns seen during past cycles.
The analyst also compared the current price action to several major capitulation moments in Bitcoin’s history. These include the 2018 bear market bottom near $3,000, the sharp crash to around $5,100 during the March 2020 market meltdown, and the FTX-driven sell-off that pushed Bitcoin down to roughly $15,500. In a recent post on X, PlanC said there is “a decent chance we are going through another major capitulation low as we speak,” suggesting the worst of the selling pressure could be happening right now.
Still, not everyone is convinced the bottom is already in. Bitcoin advocate and financial accountant Rajat Soni cautioned traders against reading too much into short-term price swings, especially over the weekend. “Never trust a weekend pump OR dump,” Soni wrote, adding that Bitcoin has a habit of surprising the market when sentiment is at its worst.
Some veteran traders are even more bearish in the short to medium term. Peter Brandt, a long-time market analyst, has warned that Bitcoin could slide further, potentially reaching the $60,000 level by the third quarter of 2026. Meanwhile, crypto analyst Benjamin Cowen believes the true cycle low may not arrive until early October 2026. He also expects several relief rallies along the way, which could lure in buyers before another wave of selling hits.
Taken together, these views paint a mixed picture. While the $75,000–$80,000 zone may prove to be a key support area if history repeats itself, traders should be prepared for more volatility. With sharp moves likely in both directions, the coming months could test the patience of even seasoned Bitcoin holders.
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