Peter Brandt sees 37% Bitcoin drop as charts turn bearish

A well-known cryptocurrency trader is predicting that Bitcoin might fall significantly from its current price, potentially dropping to somewhere between $58,000 and $62,000. This would mean a steep decline of 33% to 37% from where BTC sits today at roughly $92,400.

Peter Brandt, who has decades of trading experience, shared his forecast based on what he sees in the price charts. Writing on X, the social media platform, Brandt explained that Bitcoin could head down to the $58,000 to $62,000 range. His analysis looks at a chart pattern that has formed over the last two months, called a rising wedge.

Technical patterns signal potential weakness

This pattern shows up when prices move between two trendlines that both slope upward and gradually come closer together, with the bottom line climbing more sharply than the top one. Traders often see this formation as a sign that upward price movement is losing steam and that a drop might be coming, though chart patterns don’t always work out as expected.

Brandt was upfront about the uncertainty that comes with making market predictions. “If it does not go there I will NOT be ashamed, so I do not need to see you trolls screenshot this in the future. I am wrong 50% of the time. It does not bother me to be wrong,” he wrote.

Other market observers are also raising red flags about Bitcoin’s price action. One analyst drew attention to how Bitcoin’s current behavior looks a lot like what happened during 2022. This analyst claimed that Bitcoin is “repeating the 2022 fractal exactly.”

The comparison reveals that in both instances, Bitcoin saw a brief rally but was unable to overcome a resistance level, resulting in what traders refer to as a bull trap. Following that, a rising support line caused the price to drop. A quick selloff occurred back in 2022 when that support was broken. The expert believes that something similar may be occurring right now.

But not everyone believes that the future is bleak. Based on US liquidity concerns, analyst Ted Pillows presented an alternative perspective. He pointed out that the rise in US liquidity year over year reached its lowest point in November 2025, coinciding with a local low for the price of Bitcoin.

Since then, according to Pillows, US liquidity has started improving. He thinks this could fuel a rally in cryptocurrencies. “Now US liquidity is improving, which is one of the reasons I’m expecting a crypto rally. It’s that simple,” he said.

Early Bitcoin investors make major moves

Early Bitcoin investors are making major moves. Lookonchain reported that an old Bitcoin whale moved 909.38 BTC to a new wallet after holding them for 13 years. These coins are now worth about $84.62 million. When this investor first received them, each Bitcoin was valued at less than $7, meaning the holdings have grown about 13,900 times in value. Large movements like this often get people wondering whether these early adopters are preparing to sell or just reorganizing their holdings.

One more early investor has begun selling. Twelve years ago, this whale purchased 5,000 BTC at $332 each. They have sold 2,500 Bitcoin worth $265 million at an average price of $106,164 since December 4, 2024. With total gains of hundreds of millions, the whale still holds 2,500 BTC worth $237.5 million.

Bitcoin is currently at a turning point. While improved US liquidity circumstances imply that larger economic reasons might support a rebound, technical signals and historical parallels hint at the possibility of a bigger fall.

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