Veteran trader Peter Brandt has forecasted that Bitcoin (BTC) could decline toward the $58,000–$62,000 zone, implying a 33–37% correction from current price levels of around $92,400.
His prediction comes as Bitcoin continues to display multiple bearish signals, with other analysts also flagging the risk of further downside.
In a post on X (formerly Twitter), Brandt stated that Bitcoin could move lower to the $58,000 to $62,000 range. The accompanying chart indicates that his outlook is based on a rising wedge pattern that has developed over the past 2 months.
Rising wedge formations appear when price consolidates between two upward-sloping, converging trendlines, with the lower trendline rising more steeply than the upper.
The pattern often signals weakening momentum and a higher likelihood of a downside move, although technical analysis does not guarantee outcomes. Brandt also acknowledged the inherent uncertainty of market forecasts, stating:
"If it does not go there I will NOT be ashamed, so I do not need to see you trolls screen shot this in the future. I am wrong 50% of the time. It does not bother me to be wrong."
Beyond Brandt, several market watchers have highlighted additional bearish scenarios. One analyst pointed to similarities between Bitcoin’s current price structure and its 2022 market cycle, arguing that the asset is “repeating the 2022 fractal exactly.”
The analyst shared a side-by-side comparison, noting that in both instances Bitcoin staged a relief rally that stalled below horizontal resistance. This move ultimately formed a bull trap before price broke below rising support.
In 2022, the loss of that support led to a sharp acceleration to the downside. According to the analyst, a similar dynamic may now be unfolding, with downward momentum building.
Lastly, BeInCrypto has also identified 5 key bearish signals for Bitcoin, further reinforcing the possibility of a downward move. Nonetheless, some analysts have taken the opposite stance.
Analyst Ted Pillows noted that US liquidity year-over-year growth bottomed in November 2025, which also coincided with a local bottom for Bitcoin.
According to Pillows, US liquidity conditions have since begun to improve, a factor he believes could support a crypto rally.
As technical and macro indicators send mixed signals, on-chain data suggests long-term holders are also becoming more active. Blockchain analytics platform Lookonchain reported that a long-inactive Bitcoin OG whale has moved 909.38 BTC, valued at roughly $84.62 million, to a new wallet after 13 years.