Peter Brandt Warns Bitcoin May Slide Toward $62,000 Amid Bearish Patterns

Jakarta, Pintu News – Veteran trader Peter Brandt predicts that the price of Bitcoin (BTC) could drop to the range of $58,000 to $62,000, which would mean a 33-37% correction from the current price level of around $92,400.

This prediction comes amid various bearish signals that Bitcoin continues to show, and several other analysts have also warned of a potential further decline.

Peter Brandt Warns of Bitcoin Price Decline Based on Technical Patterns

In a post on X (formerly Twitter), Peter Brandt stated that the price of Bitcoin could drop to the range of $58,000 to $62,000. The chart included in the post shows that Brandt’s prediction is based on the rising wedge pattern that has formed over the past two months.

Read also: Bitcoin Price Plunges to $89,000 Today: Is BTC’s Bull Run Over?

“58k to 62k is the BTC goal in my opinion,” Brandt wrote.

A rising wedge pattern appears when the price moves within the range of two equally rising trend lines that are approaching each other, where the lower trend line rises more steeply than the upper trend line. This pattern often indicates weakening momentum and increases the likelihood of a downward price movement, although technical analysis does not guarantee a definitive outcome.

Brandt also acknowledged the uncertainty in market predictions, stating:
“If I don’t go down there, I won’t be embarrassed, so you trolls don’t need to screenshot this in the future. I’m wrong 50% of the time. I don’t mind being wrong.”

Potential Bearish Scenario

Besides Brandt, several other market observers have also highlighted the potential bearish scenario. One analyst pointed out the similarities between Bitcoin’s current price structure and the 2022 market cycle, saying that the asset is “repeating the 2022 pattern exactly.”

The analyst shared a side-by-side visual comparison showing that in both cases, Bitcoin experienced a relief rally that was held below a horizontal resistance level. This movement eventually became abull trap before the price broke through therising support.

In 2022, the loss of such support led to a sharp decline. According to the analyst, a similar dynamic may be taking shape now, with downward pressure continuing to build.

Finally, the BeInCrypto page also identified 5 major bearish signals for Bitcoin, which further strengthens the possibility of a price drop. Nonetheless, some other analysts have the opposite view.

Analysis from Other Experts

Analyst Ted Pillows notes that year-over-year US liquidity growth bottomed out in November 2025, which also coincides with the local bottom for Bitcoin.

Read also: Ethereum Price Weakens to $2,900 Today: ETH Activity Surges by Whales & Institutions

According to Pillows, liquidity conditions in the US have started to improve since then-factors that he believes could fuel a crypto market rally.

“Now that US liquidity is improving, and that’s one of the reasons I expect a crypto rally. It’s as simple as that,” he said.

The Reappearance of an Old Bitcoin Whale Amid Divided Market Views

Amid conflicting technical and macro signals, on-chain data shows that Bitcoin’s long-term holders are starting to become active again. Blockchain analytics platform Lookonchain reported that one long-dormant OG Bitcoin whale moved 909.38 BTC-valued at around $84.62 million-to a new wallet after 13 years.

When first received, the price of each BTC was less than $7, which means it has increased in value by about 13,900 times. Whale movements like this often attract attention because they can signal a potential sell-off or strategic repositioning by early adopters of Bitcoin.

In a separate update, Lookonchain also identified another OG whale that was seen selling its holdings. This whale bought 5,000 BTC at $332 per coin around 12 years ago.

Recently, he sold 500 BTC worth $47.77 million-continuing a pattern of gradual sales that began in December 2024.

“Since December 4, 2024, he has sold $BTC, disposing of 2,500 $BTC ($265 million) at an average price of $106,164. He still holds 2,500 $BTC ($237.5 million), for a total profit of over $500 million,” Lookonchain wrote.

As such, Bitcoin is currently at an important crossroads. On the one hand, technical patterns and historical similarities suggest the risk of a deeper correction. On the other hand, the improvement in US liquidity conditions provides a breath of fresh air that could support further rallies. But how this situation will develop remains to be seen in the future.

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*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 are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Peter Brandt Bitcoin Prediction: Whale Activity. Accessed on January 21, 2026
• Coingape. Bitcoin Price Crash to $62k Incoming: Analysts On-Chain Data Signals. Accessed on January 21, 2026
• Coinpedia. Bitcoin to $62k: Peter Brandt Weighs In, Here’s What the BTC Price Charts Suggest. Accessed on January 21, 2026