Veteran Trader Peter Brandt’s Bitcoin Prediction Signals a 30%+ Correction
Veteran trader Peter Brandt predicts Bitcoin could face a 33-37% correction down to $58,000-$62,000 based on a rising wedge pattern.Summary
Veteran trader Peter Brandt has forecasted that Bitcoin (BTC), currently around $92,400, could correct by 33% to 37%, dropping to the $58,000 to $62,000 range. This prediction is based on a rising wedge technical pattern that has formed over the past two months, which typically signals weakening momentum.
Brandt acknowledged the uncertainty of his forecast, stating he is wrong about 50% of the time. Other analysts support a bearish outlook, noting similarities between Bitcoin's current price structure and its 2022 market cycle, suggesting a potential bull trap followed by a sharp downside move.
Conversely, some analysts see bullish signals; Ted Pillows noted that improving US liquidity conditions, which bottomed in November 2025, could support a future crypto rally. Amid this split outlook, on-chain data shows activity from long-term holders, including an OG whale moving 909 BTC after 13 years, and another OG systematically selling holdings since December 2024.
(Source：BeInCrypto)