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Peter Brandt, the CEO of Factor, trader, and analyst, has indicated that Bitcoin is showing signs of vulnerability and may continue to decline to the $49,000 level.
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According to his assessment, the current price movement structure aligns with classic technical analysis models, which, he claims, the crypto market “executes more consistently than many traditional assets.” He emphasized that the expectations of market participants do not significantly influence price dynamics.
“The market is not obligated to conform to consensus — it follows structure. From this perspective, the current phase could conclude with a deeper correction down to $49,000,” Brandt stated.
He associated this level with a previous consolidation zone where significant players established their positions. A return to these values, in his view, could trigger defensive actions from holders and mark the final stage of the ongoing downward movement.
In a broader context, the analyst does not consider a potential decline to be critical for the long-term trend. He noted that such corrections might reflect a redistribution of positions ahead of the next growth phase.
Previously, Anthony Scaramucci, managing partner at SkyBridge Capital, suggested that Bitcoin could return to an upward trend in the fourth quarter.
