Is Bitcoin About to Crash? Legendary Trader Peter Brandt Sounds the Alarm!

Jakarta, Pintu News – Bitcoin (BTC) is showing a price pattern similar to the market conditions leading up to the price crash in 2021. Renowned trader, Peter Brandt, highlighted that fundamental factors often look strongest when prices peak.

His comments come amid analysts’ debates about a possible repeat of Bitcoin’s past crash patterns. All of this comes amid growing demand for Bitcoin from institutions and governments.

Bitcoin Price Structure Reflects 2021 Distribution Zones

Bitcoin has been trading in a price range between $60,000 and $105,000 for the past seven months or so.

Read also: Bitcoin Holds Strong at $105K — But Is a Drop Below $103K Coming Soon?

This consolidation period mirrors the distribution phase that occurred in 2020-2021, where Bitcoin flattened out between $30,000 and $65,000 before plummeting sharply in early 2022.

During this period, according to Peter Brandt’s post on the X platform, Bitcoin’s failure to break through certain price levels suggests a distribution pattern. In November 2021, the price of Bitcoin briefly reached around $69,000 before dropping dramatically to around $15,500 in November 2022 – a drop of around 77.5%.

According to Brandt, if the current pattern leads to a similar drop from the upper $105,000 range, then Bitcoin price could fall to near $23,600.

Despite positive market sentiment, driven by expectations of spot ETFs and institutional participation, Bitcoin price has not been able to break the resistance level at $105,000. This inability of the price to continue rising is starting to cause concern among technical analysts.

Bitcoin Technical Resistance and Market Behavior

Recently, Bitcoin failed to hold above the $106,000 resistance zone. According to analyst Michaël van de Poppe, this level is crucial for maintaining the price’s upward momentum.

In the chart, it can be seen that Bitcoin’s latest rally was immediately rejected after testing the resistance area, which then triggered the liquidation of long positions. As a result, the price dropped to the $104,000-$105,000 range after the failed breakout.

Meanwhile, Ali Martinez mentioned on platform X that the $104,124 level is now an important support area.

If this support is broken, the price of Bitcoin is expected to drop further to around $97,405. This is in line with previous market behavior, where rejection at resistance levels often triggers sudden sharp corrections.

In early June, a similar pattern occurred when Bitcoin was rejected at the same resistance level. After that, the price dropped back to near $100,000, indicating strong selling pressure above and a weak buying push from the bulls.

Peter Brandt’s Reasoning for a Potential Bitcoin Price Correction

Peter Brandt expressed caution that Bitcoin’s current price consolidation resembles the structure of the 2021 market peak.

He states, “Fundamentals always look strongest at market tops, and weakest at bottoms.” This historical pattern shows that strong fundamentals are not always able to prevent price corrections.

In the previous major cycle, before the 2021 price crash, Bitcoin’s fundamentals were also considered positive. Institutional fund flows, ETF approvals, and low supply on exchanges back then supported market optimism – just as they do now.

Read also: 3 Altcoins Predicted to Explode in Altseason 2025!

However, the failure of prices to hold near the highs repeatedly increases the likelihood of a reversal.

In response to Peter Brandt’s opinion, AetherX Capital stated that the fundamentals are currently very bullish, and the charts in the larger time frames are also showing positive signals, making it difficult to be bearish.

Even so, they recognize that a bearish outcome remains possible.

Their discussion underscores that the current price formation bears a resemblance to the 2021 market, especially in terms of prolonged flat volatility and failed breakouts.

BTC’s Golden Cross Signal Hints at Potential Long-Term Breakout

On the other hand, some traders remain optimistic thanks to technical signals. Trader Tardigrade noted that Bitcoin’s 50-day and 200-day simple moving averages (SMAs) recently formed a Golden Cross pattern. This pattern has previously preceded price spikes of 49%, 125%, and 68% in recent years.

Based on this pattern, BTC’s next price target could be in the range of $152,000 to $229,000. However, this potential upside is highly dependent on the market’s ability to maintain the current support level and not repeat the previous downward pattern.

If Bitcoin loses support at the $105,000 level again, then a possible move down towards the $100,000 area could happen again before the end of June.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Veteran Trader Peter Brandt Warns of Bitcoin Crash Amid Bullish Forecasts. Accessed on June 16, 2025