Bitcoin (BTC) Price Crash: Renowned Trader Peter Brandt Shares Insight
Bitcoin (BTC), the leading cryptocurrency in terms of market cap, experienced a significant drop over the weekend, reaching a low of $60,822 before showing some signs of recovery, stabilizing around $64,438 at present.
The exact cause of this market crash remains unclear, although there are speculations that the lower liquidity levels played a role in driving down the prices.
Amidst this tumultuous market situation, veteran trader Peter Brandt has offered his analysis, suggesting that Bitcoin has completed an “end run.” Brandt shared a daily chart of BTC/USD, highlighting the recent price drop as the completion of this “end run.”
The term “end run” typically refers to an evasive maneuver or trick employed to bypass a defense. In the context of Bitcoin, this could imply that the market has successfully navigated a challenging situation caused by the price crash near $60,000. Moreover, the term could also indicate the completion of a specific pattern in Bitcoin’s price action.
Brandt mentioned a pattern in the BTC chart resembling a symmetrical triangle, which could provide further insights.
A symmetrical triangle pattern signifies a period of consolidation before the price eventually breaks out or down. A breakdown below the lower trend line signifies the start of a bearish trend, while a breakout above the upper trend line signifies the start of a bullish trend.
In Brandt’s chart, he referred to the breakdown from this pattern as the “end run.”
Earlier, Brandt had predicted that Bitcoin’s bull run would reach its peak at $200,000 by August or September 2025, revising his initial forecast of $120,000.
Brandt’s recent comments suggest that the recent price drop may be a natural correction within a larger positive trend, potentially indicating a sense of completion and preparation for the next phase of Bitcoin’s price movement.
However, without additional details, Brandt’s statement about the “end run being completed” remains subject to interpretation.