Bitcoin Drops to 77K: The Deepest Opportunity of the Bull Cycle?

Bitcoin’s Shock Drop and Current Situation

Bitcoin dropped approximately 7% on Saturday, falling back to 77.000 dollars, and according to analyst PlanC, this could be the deepest pullback opportunity of the current bull cycle. According to CoinMarketCap data, BTC is currently trading at 79.008 dollars, having suffered a 6% loss in 24 hours. It is positioned 38% below the all-time high of 126.100 dollars reached on October 5. Over the last 30 days, it has lost 11.44% value. RSI is at 25,73, in the oversold region.

PlanC and Analyst Opinions

PlanC notes that the drop resembles the capitulations that fell to 3.000 dollars in the 2018 bear market, to 5.100 dollars in the March 2020 crash, and to 15.500-17.500 dollars in the FTX and Luna events. He suggests the cycle bottom could be between 75.000-80.000 dollars. Rajat Soni says weekend dumps should not be trusted, and Bitcoin will make an unexpected comeback. Peter Brandt forecasts down to 60.000 dollars until Q3 2026, Jurrien Timmer to 65.000 dollars, and Benjamin Cowen predicts a low in October.

Breaking News: Critical Thresholds Broken

Bitcoin fell below MicroStrategy’s cost basis (76.037 $) for the first time since October 2023. It dipped below 80.000 dollars for the first time since April 2025, triggering market panic. While the Dollar Index (DXY) rose 0,4%, BTC fell 4%, gold 2,5%, and Nasdaq 0,8%. Rumors of Walsh becoming the new FED chairman reduced risk appetite.

Technical Analysis: Supports and Resistances

• Price: 79.008,94 $ | 24h Change: -%6
• Trend: Down | Supertrend: Bear
• EMA 20: 87.392 $
• Supports: S1 75.769 $ (Strong, %73 score, -%3,96 distance) | S2 78.804 $ (Medium, %57 score)
• Resistances: R1 80.357 $ (Strong, %70 score, +%1,86) | R2 83.159 $ (Strong, %61 score)

RSI at 25,73 could signal a recovery, but bearish pressure persists below EMA 20.

Market Impacts and Expectations

This drop reflects institutional sales (MicroStrategy threshold) and macro pressures (DXY, FED). Oversold conditions could attract bottom hunters, but figures like Brandt warn of a deeper correction. Short-term, the 75-80K range is critical; if broken, capitulation will deepen.

Conclusion: Buying Opportunity or Trap?

While PlanC’s capitulation analogy offers hope, it is balanced by Soni’s comeback prediction. Investors should monitor support levels; below 75K is risky, above 80K brings relief. Whether the bull cycle continues, we’ll see soon.