Bitcoin Faces Renewed Bearish Pressure as Peter Brandt Warns of Deeper Correction

Veteran trader Peter Brandt has once again issued a bearish outlook on Bitcoin after the cryptocurrency fell below the $90,000 level. According to Brandt, Bitcoin’s brief recovery earlier this week—when it surged to around $94,000—may have been nothing more than a retest of a broader bearish formation known as a broadening top. This chart pattern typically signals a shift from an uptrend to a downtrend, suggesting that more downside movement could be imminent.

Brandt pointed to two key downside targets: $80,207 and $58,840. He also recently cautioned that Bitcoin could break below the $58,000 range entirely, potentially dipping into the mid-$40,000 zone if bearish momentum accelerates. The crash back under $90,000 has refocused market attention on the crucial $80,000 support level, which many traders view as the next major line of defense.

Market sentiment remains mixed as traders speculate on where Bitcoin may be headed before 2025 concludes. Data from Polymarket shows a 34% probability that BTC will finish the year at or above $80,000, a 61% chance it reaches $95,000, and a 30% chance of hitting the highly anticipated $100,000 milestone. Analysts such as Van de Poppe expect Bitcoin to consolidate between $92,000 and $85,000 leading into next week’s FOMC meeting, where the Federal Reserve is widely expected to cut interest rates by 25 basis points—an event historically favorable for crypto markets.

Institutional activity is also turning positive again, with Bitcoin ETFs recording net inflows in eight of the past ten trading days, reversing the trend seen in November. Still, short-term caution persists. Analyst Titan of Crypto warned that losing support at $89,000 could trigger a sharper decline toward $83,900.

As traders navigate these conflicting signals, Bitcoin’s next major move will likely hinge on macroeconomic decisions and whether key support levels can withstand mounting sell pressure.