Veteran trader Peter Brandt, who has over 50 years of market experience, is warning that Bitcoin may not be done correcting yet.

BTC has been under pressure amid ongoing global uncertainty, including new US tariffs introduced in early 2025, rising US-EU trade tensions, and renewed geopolitical headlines around Greenland. These factors have increased volatility across risk assets.

According to Keith Alan, co-founder of Material Indicators, Bitcoin has printed a death cross between the 21-week and 50-week moving averages. Historically, this setup has often appeared near long-term bottoms. Alan believes BTC could still dip further but expects a potential rebound near the 100-week moving average, around $86,000.

Peter Brandt shared a more bearish outlook. He pointed to a rising wedge pattern that has formed over the past two months, which typically signals downside risk. Based on this structure, Brandt believes Bitcoin could fall into the $58,000–$62,000 range — a drop of over 30% from current levels.

Brandt also noted that BTC is currently trading within a descending channel and said further downside is likely unless strong buying pressure steps in. He added that he’s comfortable being wrong, stating that even if his forecast doesn’t play out, it’s simply part of trading.
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