Bitcoin Price ‘Bull Market Correction is Over’: PlanC

Key Insights:

• Analyst PlanC says Bitcoin price has likely bottomed near $60,000 after a 52% drop from its all-time high.
• A long-term BTC versus Gold chart suggests a typical 14-month cycle may place the market near a bottom.
• Large BTC coins outflows from Bitfinex raised attention, though analysts say the move may be internal.

Bitcoin price may have already formed its bottom for 2026, according to several analysts tracking market cycles, exchange flows, and long-term valuation signals. A mix of market data and historical patterns is now pointing to a possible shift in momentum.

While some traders were waiting for a deeper fall toward $30,000 or $40,000, recent analysis suggests the worst part of the downturn may already be behind the market.

PlanC Says Bitcoin Price Bottom Already Formed

Market commentator PlanC argues that Bitcoin has likely completed its major correction for the cycle. In a recent post, he said the market already reached its lowest level this year when the price briefly touched around $60,000.

According to his perspective, that decline represented roughly a 52%  fall from the all-time high. He said the expected drawdown for this cycle was between 50% and 60%. That’s far less severe than the 80%  to 90% crashes seen in earlier Bitcoin bear markets.

According to the development, PlanC also claimed the Bitcoin price drop to $60,000 did not happen under normal trading conditions.

He pointed to what he described as a “glitch” on Binance, along with months of price pressure linked to trading activity from Jane Street. In his view, those events pushed the market lower than it might have otherwise recorded.

With economic data such as purchasing managers’ index readings now turning supportive, he believes the next phase of the bull market is beginning. Traders who remained on the sidelines waiting for a deeper crash, he said, may now reenter the market at higher BTC prices.

Bitcoin Gold Ratio Points to a 14 Month Cycle Low

Another signal that analysts are watching comes from the long-term chart comparing Bitcoin price with Gold. In a recent post on X, Crypto analyst Nic noted that, over the past three market cycles, the Bitcoin-to-gold ratio followed a similar pattern.

Historically, it took about 14 months for the ratio to move from its peak to the lowest point of the cycle. Per the update, those moments also lined up closely with broader bear market bottoms for Bitcoin.

The latest peak in the Bitcoin-to-gold ratio occurred about 13 months ago. Based on that timeline, the market could now be close to repeating the same pattern seen in earlier cycles. While the indicator does not guarantee a bottom, analysts view the timing as another sign that the correction phase may be ending.

Exchange Outflows Raise Questions About Market Impact

Beyond Bitcoin price outlook, fresh data from blockchain tracking groups also showed a large movement of Bitcoin away from trading platforms. Research shared by analyst Darkfost reported that exchanges recorded a net outflow of about 28,700 BTC coins in a single day. It is the largest since November 2025.

Such movements often suggest that investors are moving Bitcoin into private wallets for long-term holding. It is a trend that experts usually consider positive for the price. However, most of the activity came from one platform, Bitfinex. Its reserves dropped from 431,767 BTC to 407,140 BTC within a short period.

About 23,588 BTC coins were transferred in a single transaction to a newly created wallet. Because the transfer happened in a single block and went to a new address, analysts believe the move may have been an internal treasury adjustment rather than a wave of customer withdrawals.

If that is the case, the apparent outflow may not signal a major shift in investor behavior, even though the numbers initially appeared large.