Veteran Trader Peter Brandt Predicts Potential Bitcoin Correction of 30% or More

Expert trader Peter Brandt anticipates that Bitcoin (BTC) might experience a decline to the $58,000–$62,000 range, indicating a potential correction of 33–37% from its current price of approximately $92,400. This forecast comes amid various bearish signals for Bitcoin, as several analysts highlight the risk of further price drops.

Key Takeaways

Veteran trader Peter Brandt forecasts a potential Bitcoin price drop to the $58,000–$62,000 range, signaling a correction of 33–37%.
Brandt's analysis is based on a rising wedge pattern observed in Bitcoin's price movements.
Other analysts draw parallels between Bitcoin's current situation and previous market cycles, suggesting potential risks.
While bearish indicators are noted, some analysts see opportunities for a rally due to improving US liquidity conditions.
Whale activity reflects mixed signals—some long-term holders are offloading BTC, while others re-enter the market.

Peter Brandt Signals Possible Bitcoin Decline Based on Technical Analysis

In a recent post on X (formerly Twitter), Brandt expressed his view that Bitcoin could ultimately settle between $58,000 to $62,000. His insights are supported by a chart demonstrating a rising wedge pattern that has been forming over the last two months. "58k to $62k is where I think it is going BTC,” he noted in his post.

Rising wedge patterns occur when the price consolidates within two upward-sloping, converging lines, with the lower line increasing at a steeper angle. This formation often suggests decreasing momentum, leading to a more likely downward movement, although predictions based on technical analysis are not infallible. Brandt acknowledged the uncertainty in market forecasting, stating, “If it does not go there I will NOT be ashamed, so I do not need to see you trolls screen shot this in the future. I am wrong 50% of the time. It does not bother me to be wrong.”

In addition to Brandt's perspective, other market analysts have pointed out further bearish scenarios. One expert noted striking similarities between Bitcoin's current price action and that of its 2022 cycle, suggesting that Bitcoin "is repeating the 2022 fractal exactly." This analyst provided a side-by-side comparison, indicating that, in both cases, Bitcoin experienced a relief rally that faltered just below key resistance levels, eventually leading to a bull trap before prices fell below a critical support line. The loss of this support in 2022 resulted in a rapid decline, raising concerns that a similar situation may be transpiring now.

Moreover, BeInCrypto identified five critical bearish signals for Bitcoin, reinforcing the likelihood of a downward trend. However, some analysts remain optimistic. Ted Pillows remarked that US liquidity growth year-over-year reached its lowest point in November 2025, which coincided with a temporary bottom for Bitcoin. He noted that US liquidity conditions have started to improve since then, a factor he believes could lead to a cryptocurrency rally. “Now US liquidity is improving, which is one of the reasons I’m expecting a crypto rally. It’s that simple,” he stated.

“BTC is still in an uptrend on the weekly chart. We’ve tested the same support line three times, and it continues to hold. This last bounce around $93K indicates that buyers are still stepping in. As long as BTC remains above this trendline, the trend stays bullish,” added a trader.

Bitcoin Whales Surge Back into Activity Amid Mixed Market Signals

With mixed signals from technical and macro perspectives, on-chain data shows that long-term holders are becoming more active. Blockchain analytics service Lookonchain reported that a long-dormant Bitcoin whale transferred 909.38 BTC, valued at about $84.62 million, to a new wallet after 13 years of inactivity. When acquired, each BTC was worth less than $7, marking an astonishing appreciation of around 13,900 times the initial cost. Movements from whales typically attract attention as they may indicate potential selling or strategic adjustments by early Bitcoin adopters.

In another update, Lookonchain flagged another whale who has begun reducing their holdings. This whale had initially purchased 5,000 BTC at $332 each 12 years ago. Recently, they sold 500 BTC valued at $47.77 million, continuing a pattern of gradual selling that started in December 2024. "Since Dec 4, 2024, he has been selling $BTC, offloading 2,500 $BTC ($265M) at an average price of $106,164. He continues to hold 2,500 $BTC ($237.5M), with total profits exceeding $500M,” according to the report.

As it stands, Bitcoin finds itself at a pivotal moment. While technical analyses and historical patterns suggest the prospect of a significant correction, improving US liquidity might provide the necessary support for a renewed rally. The outcome, however, remains unclear and will ultimately depend on evolving market dynamics.