Bitcoin may face further losses as Peter Brandt warns the rebound above $90,000 could be ending, with key targets near $80,200 and $58,840.
Bitcoin may face more downside after its brief move above $90,000 this week, according to veteran trader Peter Brandt. His recent comments suggest that the rebound may have run its course, and traders are again turning their focus to lower support levels as uncertainty builds around the broader trend.
Brandt Warns That Bitcoin Rebound May Be Ending
Peter Brandt said in an X post that this week’s rise could be “all the retest of the broadening top” that the market will see. He has tracked the pattern for weeks, and he views it as a bearish formation that forms when the market becomes unstable. The rally to near $94,000 brought some hope to traders who were watching the $100,000 level, but the move quickly faded as the price fell below $90,000.
Brandt shared two downside levels on his chart. He marked $80,207 and $58,840 as areas that traders should watch. These levels match his earlier comments that Bitcoin could fall into the mid-$40,000 range if the market loses momentum. His view has drawn new attention as price pressure increases.
Traders reacted to the post with mixed views. Some believe that the pattern will continue to guide the trend, while others think the market still has room to move higher. Brandt did not provide a time frame, but he made it clear that he sees weakness in the latest move.
Market Outlook Shows Mixed Sentiment on Year-End Price Targets
Crypto traders are now trying to estimate where Bitcoin may settle before the year ends. Data from Polymarket shows a 34 percent chance that Bitcoin will reach $80,000 before the year closes. It also shows a 61 percent chance that the price will hit $95,000 and a 30 percent chance that it will reach $100,000.
These numbers show a divided market. Traders remain active, and they continue to change positions as price levels shift. Many are watching how the market reacts to the next Federal Reserve decision. Analysts expect a 25-basis-point rate cut, and traders often react quickly to any change in policy direction.
Van de Poppe, a widely followed analyst, said that Bitcoin may stay between $92,000 and $85,000 until the FOMC meeting. He said that the market needs clarity before it chooses a stronger trend. Other analysts share similar views as they monitor the tight range.
Related Reading: Veteran Trader Peter Brandt Shares Bold Outlook for XRP and BCH
Analysts Watch Key Support Levels as ETFs Bring Steady Inflows
ETF inflows have returned after a slow period in November. SoSo Value data shows eight days of inflows in the last ten sessions. Traders see this as a sign of renewed interest from institutions, and it may help support the market if selling pressure grows.
Titan of Crypto issued his own warning this week. He said that Bitcoin may fall to $83,900 if it fails to stay above the Tenkan level at $89,000. He added that the area is an important level in the current structure, and many traders agree.
The market now watches both indicators and patterns. Bitcoin remains above several key technical levels, yet traders are cautious as the price moves closer to support. Many will watch the coming days closely as they respond to Brandt’s view that the rebound may be losing strength.
Source: https://www.livebitcoinnews.com/bitcoin-may-face-further-losses-as-peter-brandt-doubts-strength-of-rebound/
