Well-known trader Peter Brandt has warned of the risk of a significant correction in Bitcoin, suggesting that in the short term the price could fall into the $58,000–$62,000 range. He bases his outlook on technical analysis signals, noting that chart patterns point to weakening upward momentum and the potential formation of a downtrend.
At the same time, Brandt emphasizes that his forecasts are not infallible and that he is comfortable being wrong. His current bearish stance stands in sharp contrast to earlier comments in which he suggested Bitcoin could rise as high as $145,000.
Peter Brandt is one of the most well-known and experienced technical analysts in the financial markets. He has been trading commodities, currencies, and indices since the 1970s and is regarded as a specialist in classical chart patterns. In the crypto space, Brandt has long been a vocal critic—not for ideological reasons, but from the perspective of a traditional trader.
The 77-year-old analyst openly opposes the “hodl at all costs” mindset common among many Bitcoin supporters, stressing that BTC is not a belief system for him but simply one speculative asset among many. His provocative statements regularly draw criticism from the community, yet they underscore his core view: markets, in his opinion, follow rules—not ideologies.
Since the start of 2026, Bitcoin has behaved far more volatile and less predictably than many investors had expected. After a strong start to the year and new highs, the market has repeatedly seen sharp pullbacks driven by geopolitical tensions, fluctuating ETF inflows, and a noticeable reduction in leverage. Bitcoin is currently trading in the $88,000–$92,000 range.
