So, Bitcoin decided to take a little tumble down to $77,000 after a dramatic 7% slip, and guess what? Some analysts think it might just be the bottom of this rollercoaster market cycle. How delightful!
In a stunning twist of fate (because who doesn’t love drama?), Bitcoin’s nosedive to $77,000 could be the lowest it’ll go-at least according to one optimistic analyst. Let’s all hold hands and pray this isn’t just wishful thinking.
Oh, and did I mention that this little escapade wiped out over $2 billion from the crypto universe during a weekend that was supposed to be relaxing? Weekend vibes? More like weekend dives!
While some folks are anticipating even more dips (because why not?), others are clinging to the hope that this sharp pullback is more of a temporary hiccup than a full-blown disaster.
Analyst suggests $77,000 may mark cycle low
On Saturday, Bitcoin gracefully fell about 7%, landing at around $77,000 before stabilizing at a not-so-glamorous $78,600. Thanks CoinMarketCap for that riveting data!
Our dear analyst PlanC chimed in, claiming this drop could represent the deepest plunge of the current bull phase. He shared his thoughts on X (formerly Twitter, because rebranding is all the rage) during the weekend session. How poetic!
$75,000-$80,000 is a 37% to 40% correction.
Decent chance this will be the deepest pullback opportunity this Bitcoin bull run.
This is my personal opinion, not financial advice.
– Plan C (@TheRealPlanC)
PlanC took us on a nostalgia trip, comparing this drop to previous market meltdowns like the 2018 crash, the March 2020 freakout, and the infamous FTX fiasco. Apparently, sharp falls followed by recoveries are the new normal-cue the eye roll.
“There is a decent chance we are going through another major capitulation low as we speak,” he said. Because who doesn’t love a good capitulation?
He even threw out a range of $75,000 to $80,000 as the final low. It’s like a game of financial limbo-how low can you go?
Market data shows broader weakness
In other news, Bitcoin is down a charming 11% over the last month, according to our friends at the market data providers. And it’s now hanging out about 38% below its glorious all-time high of $126,100. Remember those days? Good times!
That peak happened back in October when everyone thought the party would never end. Cue the sad trombone sound!
This decline coincided with a flurry of liquidations across the crypto landscape. It’s like a mass exodus of leveraged positions-poof! Gone!
Despite the chaos, trading has been surprisingly steady post-dip. Prices even managed to inch up after the weekend drama. Traders are now glued to their screens, praying for signs of stabilization. Good luck with that!
Related Reading: BTC Selling Pressure Fades as Binance Inflows Fall Below 2020 Levels
Other analysts warn of possible downside
But wait, not everyone is sipping on the optimistic Kool-Aid. Veteran trader Peter Brandt thinks Bitcoin might still have further to fall. He’s projecting a lovely trip down to $60,000 by Q3 of 2026. Can’t wait!
Meanwhile, crypto analyst Benjamin Cowen is keeping it real. He believes the market cycle low is still on the horizon but predicts several exhilarating rallies before we get there. Buckle up, folks!
If history is any indication, the market cycle low for Bitcoin will occur between October 3rd to October 11th of 2026, plus or minus a few days.
I’m sure plenty of rallies will occur between now and then.
– Benjamin Cowen (@intocryptoverse)
Fidelity’s Jurrien Timmer weighed in with a long-term view, suggesting that 2026 could be a slow jam for Bitcoin. He even threw out a potential revisit to $65,000 if the stars align. How exciting!
Weekend volatility and trader caution
Bitcoin enthusiast and accountant Rajat Soni had some wisdom to share during this chaotic time. He pointed out that weekends are notorious for higher volatility. Shocking, I know!
He cautioned traders against making rash decisions based on short-term price swings. “Never trust a weekend pump or dump,” he said. Wise words from a sage of Bitcoin!
As Bitcoin hovers around the $78,000 mark, the market remains a divided house. Some folks are convinced the recent dip was the grand finale, while others are anxiously looking for more downward action as the saga unfolds.
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2026-02-01 16:28