Peter Brandt shares new take on Bitcoin price, flags $93,000 mark as the needed level to negate the current downtrend.
Peter Brandt shares new take on Bitcoin price, flags $93,000 mark as the needed level to negate the current downtrend.Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.
Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Veteran trader Peter Brandt has dropped a new price rebound target for Bitcoin after the coin shed more than 5.2% in the last seven days. Brandt that Bitcoin is likely to continue on its bearish momentum unless it can reclaim $93,000 and stabilize above that point.Notably, Brandt relied on technical charts to argue his point. According to him, Bitcoin is in a"bear channel." This is a downward-sloping price range where lower highs and lower lows keep forming. Brandt maintains that Bitcoin's moves in the bear channel have"been completed." This implies that Bitcoin is likely to continue its bearish momentum or pause before it proceeds in further downward slips. The veteran trader is overall bearish on the outlook for Bitcoin. However, Brandt noted that for Bitcoin to break out of this bearish momentum, bulls need to support the coin to climb to $93,000. He insists that if BTC fails to breach this level, the current outlook might linger for a while. Brandt implied that he is willing to change his stance if Bitcoin stabilizes above $93,000, as this would negate the current chart. Yet another sell signal in Bitcoin as a bear channel has been completed. Remember that charts can always morph. Price needs to reclaim $93k to negateBitcoin, in the last 24 hours, has continued to fluctuate between a low of $86,003.71 and a high of $88,839.22. As of press time, Bitcoin is The coin’s trading volume has jumped by a massive 188.96% to $47.4 billion. This volume appears to be a reflection of institutional selling. On the Bitcoin exchange-traded funds market, there have been steady This has contributed to the price decline seen in the crypto sector as traders and investors are cautious as the bearish trend continues.Market watchers are now keen on seeing how Bitcoin closes the first month of 2026. If the volatility continues and BTC stays in the red zone, it would mark the fourth consecutive month.The current downward trend for Bitcoin began in October 2025 after it hit an all-time high of $126,198.07. Since then, BTC has slipped downhill, breaching the psychological $100,000 and staying below it for weeks now.. He maintained that the asset will continue to appreciate because the national debt of the United States keeps increasing amid the dwindling purchasing power of the dollar.TokenFi Unveils High-Visibility Branding Campaign Across Italy Ahead of 2026 Winter Olympics
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