Peter Brandt Validates Possible $70,000 Bitcoin Price Prediction
The post Peter Brandt Validates Possible $70,000 Bitcoin Price Prediction appeared on BitcoinEthereumNews.com.
Key Notes Bitcoin price is displaying bearish consolidation amid a broader market selloff. Top trader Peter Brandt is not ruling out a retest of the $70,000 floor. Analysts have divided opinion on the short-term trajectory of the top coin . The price of Bitcoin BTC $85 106 24h volatility: 2.2% Market cap: $1.69 T Vol. 24h: $28.30 B has dropped below $86,000, raising concerns about further declines. In his X post, legendary trader Peter Brandt has weighed in on the situation, acknowledging that a fall to $70,000 is a reasonable expectation. This decline comes as traders and investors look forward to the US PCE inflation report, which could influence the market’s direction. Bitcoin Under Pressure as Investors Await Inflation Report Current market data shows that the price of Bitcoin is down by over 2.86% in the past 24 hours. According to CoinMarketCap, Bitcoin has been trading at around $85,247.20 as sellers dominate the market. Notably, the digital asset market has continued to record general volatility, with Bitcoin’s trading volume declining by 2.4% to $25.8 billion. Unfortunately, this negative price swing has spurred concerns that Bitcoin could drop even further, possibly reaching a low of $70,000. Despite being known as a Bitcoin bull, Peter Brandt, a widely respected trader, has backed this possibility. In an X post, Brandt reacted to an analysis from market expert HTL-NL. The analysis speculates that Bitcoin could experience a price decline to $76,700 or even $70,000. Brandt responded that this was not an unreasonable expectation, suggesting that he agrees with the assessment. The crypto market is experiencing uncertainty, with traders holding back their investment plans before releasing the US PCE inflation data. Some experts believe that if inflation is lower than expected, the Federal Reserve might ease interest rates, which could help Bitcoin’s price recover. On…
Filed under: News - @ March 28, 2025 2:28 pm