Bitcoin

Peter Brandt Warns Bitcoin Could Drop to $58K–$62K Next

3 hours ago
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Bitcoin trades near $90.8K as Peter Brandt targets $58K–$62K after a breakdown, while CME gaps and on-chain losses raise caution.

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Bitcoin (BTC) remains under selling pressure after losing key technical support. Veteran trader Peter Brandt has warned that the current structure still points lower. His focus is on the $58,000–$62,000 range, which he considers the next major area to watch following the recent breakdown.

Peter Brandt Targets $58K–$62K

Peter Brandt wrote that “58k to $62k is where I think it is going,” keeping his bearish view on Bitcoin. He shared a chart showing a broadening top pattern, also known as a megaphone setup. The pattern formed with wider swings before the price slipped through the lower support line.

After that breakdown, Bitcoin bounced and climbed back toward $102,200. However, the move failed to regain lost support and reversed lower, fitting the definition of a bearish retest. Brandt’s downside zone also sits close to $58,840, which matches the $58,000–$62,000 range he referenced.

Bitcoin peaked near $126,000 in early October 2025 before reversing lower. The drop confirmed a completed top structure and pushed BTC down into the November low. It later stabilized and moved into a rising channel, but the rebound has not cleared key ceilings.

Notably, two resistance levels remain in focus at $98,950 and $102,200. Bitcoin has struggled to close above both zones. As long as the asset stays below them, buyers face a tough recovery path.

Meanwhile, the ADX (14) sits near 33, which points to a strong trend environment. With Bitcoin still trading below key moving averages, the reading supports the idea that sellers still control the broader move.

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Bitcoin trades near $91,000 at press time, down about 2% over 24 hours and 1% in the last seven days. Trading volume stands above $38 billion. Renewed geopolitical tensions and tariff rhetoric from US President Donald Trump have added pressure to risk assets, including Bitcoin.

CME Gaps and On-Chain Loss Signals

Short-term traders are also monitoring CME price gaps forming around $93,000. Analyst CW said “a new CME gap has formed around $93,000,” adding that BTC may “first fill the CME gap around $88.2k, and then the CME gap at $93k.” That outlook points to a dip-and-rebound scenario if buyers defend the lower zone.

On-chain data adds another layer of concern. CryptoQuant head of research Julio Moreno said Bitcoin holders are now realizing losses, with the 30-day Realized Net Profit/Loss turning negative for the first time since October 2023.

Another CryptoQuant analyst, MorenoDV_, also pointed to a possible shift in sentiment based on the Fear & Greed Index trend. The analyst said the 30-day average has crossed above the 90-day average for the first time since May 2025, describing it as a setup where “short-term sentiment is improving faster than the broader baseline.”

Even so, the analyst warned that the signal works best as confirmation and not a trigger. If the short-term average fails to hold above the long-term line, it may suggest “optimism lacked depth and conviction” during a fragile market phase.

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Source: https://cryptopotato.com/peter-brandt-warns-bitcoin-could-drop-to-58k-62k-next/