TLDR
- Veteran trader Peter Brandt warns Bitcoin could crash by 75% based on technical analysis.
- The current market setup resembles Bitcoin’s 2022 price pattern before its major decline.
- A Double Top formation has appeared on Bitcoin’s chart, signaling a potential bearish reversal.
- Bitcoin recently hit $112,000 before showing signs of weakness, similar to its 2021 peak.
- The 9-period EMA has crossed below the 21-period EMA, historically indicating a downtrend.
Veteran trader Peter Brandt warns that Bitcoin faces a potential 75% price crash. His analysis compares the current market setup to Bitcoin’s 2022 downturn. Despite recent gains, technical indicators suggest a major reversal could be imminent.
Brandt Warns of Bitcoin Price Collapse
Brandt highlights a Double Top pattern forming on Bitcoin’s chart. The first peak occurred above $108,000 in late 2024 and early 2025. The second peak reached $112,000 last month, mirroring the 2021-2022 cycle.
Additionally, the 9-period EMA has crossed below the 21-period EMA. This crossover historically signals the start of a downtrend. The setup resembles the 2022 crash, where Bitcoin lost significant value.
Is Bitcoin $BTC following its 2022 script and setting up for a 75% correction? Doesn't hurt to ask this, does it? pic.twitter.com/BAywkhSwgy
— Peter Brandt (@PeterLBrandt) June 10, 2025
A 75% drop from current levels would push Bitcoin price to around $27,298. Traders are monitoring these patterns for confirmation of a bearish turn. The market sentiment appears increasingly cautious.
Traders Go Short as Bitcoin Volatility Rises
Bitcoin’s trading volume surged 30% to $100.33 billion, indicating heightened activity. Open interest also rose slightly by 1%, suggesting ongoing market participation. However, long/short ratios on major exchanges lean bearish.
Binance’s BTC/USDT long/short ratio stands at 0.5501, while OKX reports 0.53. More traders hold short positions, reflecting skepticism. Despite recent price gains, derivatives traders remain wary.
The increased volume often precedes sharp price movements. If Brandt’s analysis holds, Bitcoin could face significant downward pressure. The market remains divided on the next major move.
Investment Products See Shifting Sentiment
Bitcoin investment products recorded $56.5 million in outflows last week. Ethereum, meanwhile, attracted $296.4 million in inflows, outperforming Bitcoin. This shift suggests changing investor preferences.
Short-Bitcoin products also saw outflows, indicating broader market uncertainty. Traders are adjusting positions amid volatility. The data aligns with Brandt’s warning of a potential crash.
If Bitcoin repeats its 2022 trajectory, a steep decline may follow. Market participants are bracing for possible turbulence ahead. The coming weeks could prove critical for Bitcoin’s price direction.
