Renowned trader Peter Brandt has expressed a pessimistic view regarding the future price movements of Bitcoin after it recently fell below the $90,000 mark. He indicated that the recent upward movement may have reached its peak, with a downturn likely imminent.
In a post on X, Brandt hinted at a potential for further declines in Bitcoin”s value. He suggested that the recent rally could represent the last opportunity for the market to retest the broadening top pattern, which typically signals a reversal from an uptrend to a downtrend.
Earlier this week, BTC surged to approximately $94,000, which sparked optimism among traders that a rise to the significant $100,000 threshold was achievable. However, the cryptocurrency”s subsequent fall below $90,000 has shifted focus back to lower support levels, particularly around $80,000.
Brandt”s analysis included key downside targets at $80,207 and $58,840. He recently cautioned that Bitcoin could experience further declines, potentially dropping below $58,000 and moving into the mid $40,000 range.
Market participants are currently speculating on Bitcoin”s price trajectory before the end of 2025. Data from Polymarket reveals that there exists a 34% probability for Bitcoin to reach $80,000 by year”s end, a 61% chance for it to hit $95,000, and a 30% likelihood of it reaching the psychologically significant $100,000 mark.
According to crypto analyst Van de Poppe, Bitcoin is likely to remain within a trading range of $92,000 to $85,000 until after the upcoming Federal Open Market Committee (FOMC) decision next week. The Federal Reserve is anticipated to implement a 25-basis-point rate cut, which could serve as a bullish indicator for Bitcoin.
Another positive development for Bitcoin is the resurgence of institutional inflows via exchange-traded funds (ETFs). As reported by SoSo Value data, these funds have experienced daily net inflows on eight out of the last ten trading days, a notable recovery from the outflows observed in November.
However, Titan of Crypto, another crypto analyst, has warned of the possibility of Bitcoin dropping to as low as $83,900 in the short term. He emphasized that failing to maintain support above the Tenkan level at $89,000 could lead to a decrease to the $83,900 support level.
