Bitcoin Plunges 7%: Experts Clash Over Whether This Is The Market Bottom
Bitcoin just took a sharp dive, slicing 7% off its value in a move that's left the crypto world holding its breath. The question on everyone's mind: is this the floor?
The Great Divide
Analysts are split right down the middle. On one side, the capitulation crew points to the sheer velocity of the drop as a classic sign of panic selling—the kind that often precedes a major reversal. They're whispering about generational buying opportunities and washed-out leverage.
On the other, the bear brigade sees more pain ahead. They're watching order books thin out and warning that this could be the first tremor before a bigger quake, with traditional markets looking shaky and macro winds turning foul. It's the ultimate tug-of-war between fear and greed playing out in real-time.
Finding the Line in the Sand
So where's the bottom? Nobody has a crystal ball, but the battle lines are being drawn around key technical levels and on-chain metrics. Some are watching for a stabilization in exchange flows, a sign the weak hands have finally thrown in the towel. Others are waiting for a volatility squeeze—a moment of eerie calm that often signals the next big move.
One thing's for sure: the usual chorus of 'number go up' influencers has gone suspiciously quiet, replaced by the cold, hard math of charts and chain data. After all, in crypto, hope isn't a strategy—but spotting the moment when everyone else loses it just might be. Remember, the last person to call a bottom usually works at a bank that's about to launch its own digital asset fund.
Factors behind the weekend slide
Market observers noted that a “perfect storm” of geopolitical and macroeconomic events exacerbated the volatility. Sentiment swiftly shifted after President Donald TRUMP selected former Federal Reserve Governor Kevin Warsh to succeed Jerome Powell. Traders were concerned that Warsh could attempt to shrink the Fed’s balance sheet, which might limit the liquidity that has historically fueled increases in cryptocurrencies.
Additionally, risk-on assets were rocked by reports of an explosion at Iran’s Bandar Abbas port, a vital international shipping gateway. Because the port manages a significant amount of the world’s oil traffic, the ensuing uncertainty drove investors to gold and other safe-haven assets, making Bitcoin susceptible to the massive sell-off that led to widespread liquidations.
Analyst sees potential market bottom
PlanC, a Bitcoin analyst, thinks Saturday’s drop might actually be the low point for this market cycle. “Decent chance this will be the deepest pullback opportunity this Bitcoin bull run,” PlanC wrote on X Saturday. He’s seen this kind of thing before, pointing to the 2018 bear market when Bitcoin fell to $3,000, the March 2020 crash that brought it down to around $5,100, and the FTX and Luna meltdowns that sent prices to roughly $15,500 and $17,500.
“There is a decent chance we are going through another major capitulation low as we speak,” PlanC said. He figures the bottom will land somewhere between $75,000 and $80,000.
But Rajat Soni, a Bitcoin advocate and financial accountant, isn’t buying into weekend panic. “Never trust a weekend pump OR dump,” Soni posted on X Saturday. Crypto markets get pretty wild on weekends, he noted, and traders shouldn’t read too much into it. “Bitcoin will make a comeback when you least expect it,” he added.
Some predict further declines ahead
Not everyone’s convinced we’ve seen the worst of it. Peter Brandt, a veteran trader, recently predicted Bitcoin could drop to $60,000 by the third quarter of 2026. Crypto analyst Benjamin Cowen said the market cycle’s lowest point will probably show up in early October, though he “anticipates plenty of rallies will occur between now and then.”
Jurrien Timmer, Fidelity’s director of global macroeconomic research, suggested 2026 might be a “year off” for Bitcoin, with prices potentially sliding to $65,000. The split opinions show just how uncertain things are right now, leaving traders to figure out their next moves in what’s shaping up to be a bumpy ride.
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