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Veteran trader Peter Brandt said Bitcoin has not yet seen its true bottom and that a deeper pullback in the market is still a possibility.
Brandt, who previously predicted that Bitcoin could fall to $60,000 in 2026, stated, “The real bottom won’t be reached before October 2026.”
Brandt had stated in December, when Bitcoin was around $88,000, that he expected it to bottom out at around $60,000 in the third quarter of 2026. Before the first month of 2026 was over, on February 6th, the BTC price had fallen to approximately $62,700.
Brandt stated that the price could “sweep” even lower during the year, falling to the upper end of the $50,000 range.
On the other hand, BitMEX co-founder Arthur Hayes also stated that he does not expect a strong recovery in Ethereum in the short term.
According to Hayes, $ETH may fluctuate horizontally around $2,000 until US dollar liquidity increases. Ethereum is currently trading at $1,941, having lost more than 40% of its value in the last 30 days.
However, some analysts argue that Ethereum offers a buying opportunity. Michaël van de Poppe painted a positive picture for $ETH, highlighting that stablecoin transactions have increased by 200 percent in the last 18 months.
Santiment, citing social media data, reported that market participants are in a “strongly bearish” mood. According to the platform, extreme negativity historically coincides with periods of bottoming out and recovery.
*This is not investment advice.
coindesk.com
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