Bitcoin price risks falling further after extending its decline to $74K today. Experts and analysts are divided on how much lower BTC could crash amid ongoing volatility, macro uncertainties, and bear market dynamics. After the latest decline, veteran trader Peter Brandt lowered his Bitcoin price target from $58K to $54K.
Peter Brandt Predicts How Low Bitcoin Price Can Go
Veteran trader Peter Brandt warns about a further Bitcoin price crash as the global market conditions worsen. BTC has dropped to a critical support of $74,500 today, an April 2025 low, amid ongoing volatility, macro uncertainties, geopolitical tensions, and bear market dynamics.
On February 2, Peter Brandt shared a BTC daily timeframe chart, predicting an exact price target of $54,059. If BTC breaks the April support level, Bitcoin price can crash to $66,530. A further breakdown from $66,500 would push prices toward support at $54,860, implying additional near-term downside risk amid recent volatility.
Bitcoin Price in Daily Timeframe. Source: Peter BrandtHe also expressed concerns for Strategy (MSTR) stockholders and said, “When on this journey will investors want to start jumping from the Sayl_boat?” He claims that MicroStrategy will perform “just great, but what about his investors?”
Recently, Peter Brandt shared a Crypto Total Market Cap chart as the market cap fell to the key support level of $2.82 trillion after the crypto market crash. He cautioned that continued bearish pressure can take the crypto market cap down to $2.41 trillion. Today, the global crypto market cap has tumbled nearly 4% to $2.55 trillion.
The bearish outlook comes as Bitcoin struggles amid broader market headwinds, including a partial US government shutdown. The second-largest cryptocurrency is down over 40% from an ATH of $126,198 in just a few months. Moreover, spot Bitcoin ETF outflows signal bearish sentiment among institutional investors.
BTC Wavers Amid Crash Across Multiple Assets
Bitcoin price fell more than 5% in the past 24 hours, currently trading at $74,934. The 24-hour low and high are $74,551 and $79,142, respectively. Furthermore, the trading volume has decreased by 13% over the last 24 hours, indicating a lack of interest among traders.
Selling pressure has increased across multiple asset classes, including gold, silver, Nasdaq 100. Gold prices dropped more than 4% to below $4,700 on Monday, extending losses since US President Donald Trump nominated hawkish former Fed governor Kevin Warsh to replace Jerome Powell as US Federal Reserve chair.
CoinGlass data shows massive selling in the derivatives market in the last few hours. Total BTC futures open interest fell over 6% to $50.73 billion in the past 24 hours. The 4-hour BTC futures open interest tumbles 3% on CME and Binance.
Source: https://coingape.com/bitcoin-extends-fall-peter-brandt-lowers-his-btc-price-crash-target/
