Veteran trader Peter Brandt warned that Bitcoin could slide into the $58,000–$62,000 range, posting the outlook on X and stressing he’s comfortable being wrong. Brandt said his forecasts fail roughly half the time and urged readers not to treat price targets as guarantees.
His comments come amid a fragile technical backdrop and a market divided between bullish conviction and caution. Brandt also questioned the common assumption that Bitcoin will rise without limit, arguing that stance depends on the belief that no superior technology will appear — a premise he says is vulnerable as advances like quantum computing emerge. Analyst Ali Martinez voiced similar concerns.
From a charting perspective, Daan Crypto Trades noted Bitcoin rejected its bull-market support band on the first retest since the November breakdown. BTC remains near that zone, and Daan said bulls need a decisive weekly close back above the band to restore momentum. He added that these retests often set the tone for weeks or months depending on whether the level is reclaimed or rejected.
A far more bearish view came from Rashad Hajiyev, who projected that if historical four-year cycles repeat, Bitcoin could fall to roughly $29,000 by October 2026. Hajiyev points to peak years in 2017, 2021 and 2025 followed by about year-long drawdowns near 80% in prior cycles.
Market data from CoinMarketCap shows Bitcoin dropped 6.64% over the past 24 hours to $70,927, underperforming the broader market’s 5.71% decline. Consensus remains split: some traders still target $110,000, while others warn the asset could face a deeper correction.