Peter Brandt: Bitcoin Likely in Months-Long Bear Market
Veteran trader Peter Brandt says Bitcoin remains in a long-term bear market and is “not out of the woods.” He argues the current market structure shows significant technical damage that a few days of gains cannot invalidate. Brandt labeled recent rebounds — including a recovery from $80,000 and a rejection near $93,000 — as potential "dead cat bounces." Bitcoin is still roughly 27.6% below its all-time high of $126,080 reached in early October. Brandt’s view comes amid recent volatility, including a surge above $92,000 and broader industry developments such as Vanguard opening access to crypto ETFs. Traders should treat short-lived rallies with caution and consider that the downtrend could persist for months.
Bearish
Peter Brandt is a well-known technical trader; his assessment emphasizes structural technical damage and classifies recent gains as likely dead cat bounces. Key facts supporting a bearish view: BTC remains ~27.6% below its October all-time high; recent rallies have been rejected at resistance (~$93k); and Brandt expects the resolution to take months. Historically, authoritative technical calls from veteran traders can reinforce trader sentiment, causing reduced risk appetite and profit-taking during rallies. Short-term impact: increased volatility and skepticism toward rallies, prompt cautious position sizing, and higher use of protective stops. Long-term impact: if price fails to reclaim prior highs or key support turns into resistance, prolonged consolidation or additional downside is likely, delaying bullish momentum and institutional inflows. Overall, Brandt’s commentary increases downside risk perception among traders and may suppress aggressive long positions until technical confirmation of trend reversal appears.