Bitcoin on the Edge: Why One Veteran Trader Sees a 75% Plunge

Even as Bitcoin (BTC) flirts with new highs, veteran trader Peter Brandt has issued a stark warning: a massive 75% crash could be imminent.

Drawing chilling comparisons to Bitcoin’s 2022 chart, Brandt’s alert comes just ahead of crucial US CPI data, which could dictate BTC’s next move.

Brandt’s analysis points to a familiar pattern emerging on Bitcoin’s technical charts, leading him to question if “Bitcoin ($BTC) [is] following its 2022 script and setting up for a 75% correction?” The chart indicates BTC is at a critical juncture, capable of either breaking higher or plummeting.

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Altcoin Season Might Already Be Starting – But Most Traders Don’t See It

Despite recent bullish momentum pushing Bitcoin to $110,000, on-chain data from Glassnode suggests the derivatives market might be overheating. While funding rates remain modest, signs like rising short liquidations and increasing long-side premiums signal potential short-term volatility.

The immediate future hinges on macroeconomic factors, particularly the upcoming US CPI numbers for May. An inflation uptick could trigger selling pressure and potentially delay Federal Reserve rate cuts.

However, a recent $1 billion surge in Tether’s USDT supply offers a counter-narrative, possibly injecting fresh liquidity to fuel a Bitcoin rally. The market anxiously awaits Wednesday’s CPI release.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.