Peter Brandt Predicts Bitcoin Could Fall to $40,000 Amid Volatility

Citing Bitjie, Peter Brandt, a veteran trader with 50 years of experience, has predicted that Bitcoin could fall to the $40,000 range if it fails to break above its long-term upper trendline. In a recent X post, Brandt analyzed Bitcoin's price action, noting that the failure to reach the upper boundary of a key channel since 2013 has historically led to a decline toward the lower boundary, currently extending from below $70,000 to around $40,000. He emphasized that the recent pullback from $92,000 to $86,000 signals a shift from a 'healthy trend' to a 'risk trend,' with the $40,000 level seen as a normal developmental point rather than a crisis.