Peter Brandt Says Bitcoin Could Fall to $58,000–$62,000 on Rising Wedge

Beincrypto reports veteran trader Peter Brandt warned that Bitcoin may decline to the $58,000–$62,000 range, implying a 33–37% correction from current levels of around $92,400. Brandt posted on X that “58k to $62k is where I think it is going BTC,” linking a chart that he says shows a rising wedge formation that developed over the past two months and adding that he is “wrong 50% of the time.” Other analysts have compared the current price structure to a 2022 fractal, saying a stalled relief rally below resistance formed a bull trap before price broke rising support.

The article also flagged five key bearish signals for Bitcoin. On-chain data from Lookonchain showed a long-inactive OG whale moved 909.38 BTC to a new wallet after 13 years (about $84.62 million), and another early holder who bought 5,000 BTC at $332 12 years ago has sold 500 BTC worth $47.77 million and, since Dec 4, 2024, has dumped 2,500 BTC at an average price of $106,164 while still holding 2,500 BTC, with total profits exceeding $500 million.

Views are split: analyst Ted Pillows noted US liquidity year-over-year growth bottomed in November 2025 and said “Now US liquidity is improving, which is one of the reasons I’m expecting a crypto rally.

Key Topics

Crypto, Peter Brandt, Bitcoin, Rising Wedge, Bitcoin Whales, Lookonchain