Veteran trader Peter Brandt has forecasted that Bitcoin (BTC) could decline toward the $58,000–$62,000 zone, implying a 33–37% correction from current price levels of around $92,400.
His prediction comes as Bitcoin continues to display multiple bearish signals, with other analysts also flagging the risk of further downside.
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Peter Brandt Warns Bitcoin May Drop Based on Technical Patterns
In a post on X (formerly Twitter), Brandt stated that Bitcoin could move lower to the $58,000 to $62,000 range. The accompanying chart indicates that his outlook is based on a rising wedge pattern that has developed over the past 2 months.
“58k to $62k is where I think it is going BTC,” the post read.
Rising wedge formations appear when price consolidates between two upward-sloping, converging trendlines, with the lower trendline rising more steeply than the upper.
The pattern often signals weakening momentum and a higher likelihood of a downside move, although technical analysis does not guarantee outcomes. Brandt also acknowledged the inherent uncertainty of market forecasts, 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.”
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Beyond Brandt, several market watchers have highlighted additional bearish scenarios. One analyst pointed to similarities between Bitcoin’s current price structure and its 2022 market cycle, arguing that the asset is “repeating the 2022 fractal exactly.”
The analyst shared a side-by-side comparison, noting that in both instances Bitcoin staged a relief rally that stalled below horizontal resistance. This move ultimately formed a bull trap before price broke below rising support.
In 2022, the loss of that support led to a sharp acceleration to the downside. According to the analyst, a similar dynamic may now be unfolding, with downward momentum building.
Lastly, BeInCrypto has also identified 5 key bearish signals for Bitcoin, further reinforcing the possibility of a downward move. Nonetheless, some analysts have taken the opposite stance.
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Analyst Ted Pillows noted that US liquidity year-over-year growth bottomed in November 2025, which also coincided with a local bottom for Bitcoin.
According to Pillows, US liquidity conditions have since begun to improve, a factor he believes could support a crypto rally.
“Now US liquidity is improving, which is one of the reasons I’m expecting a crypto rally. It’s that simple,” he said.
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OG Bitcoin Whales Resurface Amid Split Market Outlook
As technical and macro indicators send mixed signals, on-chain data suggests long-term holders are also becoming more active. Blockchain analytics platform Lookonchain reported that a long-inactive Bitcoin OG whale has moved 909.38 BTC, valued at roughly $84.62 million, to a new wallet after 13 years.
When received, each BTC was worth less than $7, representing an appreciation of about 13,900 times the previous value. Such whale movements often generate attention by signaling either potential selling or strategic repositioning by early adopters.
In a separate update, Lookonchain identified another OG who has been offloading holdings. The whale acquired 5,000 BTC at $332 each 12 years ago. This holder recently sold 500 BTC worth $47.77 million, extending a pattern of systematic selling that began in December 2024.
“Since Dec 4, 2024, he has been selling $BTC, dumping 2,500 $BTC($265M) at an average price of $106,164. He still holds 2,500 $BTC($237.5M), with total profits exceeding $500M,” the post read.
Thus, Bitcoin currently finds itself at a crossroads. While technical patterns and historical fractals point to the risk of a deeper correction, improving US liquidity conditions suggest that macro tailwinds could eventually support a renewed rally. What ultimately materializes remains to be seen.
