TL;DR:
- Analyst Peter Brandt rules out the presence of technical signals for an imminent trend change on the weekly chart.
- Firm CryptoQuant registered the reactivation of 1,246 BTC that were inactive for periods between three and ten years.
- The asset is trading below the 50-week moving average and the Ichimoku Cloud indicator.
Peter Brandt, a renowned trader, stated that the current price structure does not present elements to anticipate the imminent arrival of a Bitcoin bull market. The veteran analyst publicly backed the weekly projections released by the firm Northstar Charts.
As a classical chartist I see nothing right now to suggest a bull market is urgent https://t.co/ICgz4Uk9ZH
— The Factor Report (@PeterLBrandt) August 3, 2026
Technical Assessment of the Weekly Chart
According to Northstar Charts, the BTC/USD pair maintains a bearish trajectory after breaking the rising wedge formation near the highs of the current cycle.
The report indicates that the price lost the support of the 50-week simple moving average. Similarly, technical data confirms that during the first half of the year, the price fell below the Ichimoku Cloud.
Historical readings provided by the source highlight that sustained bullish phases previously require the recovery of both indicators. Northstar Charts’ interpretation suggests that, as long as the price does not overcome the cloud’s resistance, the risk of additional corrections will prevail.
For his part, analyst Peter Brandt’s assessment does not contemplate immediate losses of great magnitude. However, the operator’s stance maintains that the consolidation of a durable floor could extend over time.
According to Brandt’s estimates, a cyclical price minimum is not projected before October 2026. This time projection reinforces the hypothesis of a prolonged sideways range in the spot markets.
Technical Signals and Blockchain Movements
Adding to the caution in the charts is the displacement of coins that remained without mobility on the network.
According to researcher Maartunn from the CryptoQuant platform, the transfer of 500 BTC that remained immobile for more than ten years was identified. Additionally, the on-chain report confirmed the parallel movement of 746 BTC aged between three and five years.
CryptoQuant’s analysis posits that the transfer of old funds usually precedes phases of liquidity or potential sale. However, block records do not directly confirm that these assets have been deposited in cryptocurrency trading platforms. Despite the prudence observed in the chart indicators, various traders maintain an optimistic reading.
Analyst Luke Martin noted that market conditions could align favorably. Martin based his comment on statements by CNBC host Jim Cramer, who expressed his intention to sell his cryptocurrency positions.
Within trading communities, Jim Cramer’s comments are often interpreted as a contrarian indicator. The perspective of these participants suggests that extremely cautious stances in traditional media could precede turning points in the price.
Monitoring of the weekly structure will continue to focus on the behavior of the 50-week moving average as the main validation level for any trend change in the coming quarters.