Bitcoin (BTC), the leading cryptocurrency by market capitalization, witnessed a significant downturn over the weekend, tumbling to lows of $60,822 before modestly rebounding to approximately $64,438 at the time of reporting.
The precise catalyst behind this abrupt market fluctuation remains elusive, though there are conjectures attributing the downturn to diminished liquidity resulting in subdued pricing dynamics.
In response to the market turbulence, seasoned trader Peter Brandt weighed in, offering his analysis by suggesting that Bitcoin has completed an “end run.” Brandt shared a daily BTC/USD chart, delineating the recent price decline as indicative of this purported “end run.”
The term “end run,” commonly associated with evasive maneuvers akin to circumventing a defensive strategy, finds its roots in soccer parlance, denoting a player’s attempt to maneuver around the end of the line with the ball.
In the context of Bitcoin, the term may suggest that the market has navigated past a precarious juncture following its downturn near the $60,000 mark. Brandt’s use of “end run” could also signify the culmination of a specific price pattern within Bitcoin’s trading trajectory.
Highlighting a pattern reminiscent of a symmetrical triangle on the BTC chart, Brandt’s analysis offers potential insights into the market’s future trajectory. Symmetrical triangle patterns typically denote a phase of consolidation before a decisive breakout or breakdown occurs. A breach below the lower trend line signals a bearish trend, while a breach above the upper trend line signifies a bullish trend.
Brandt characterizes the recent breakdown from this pattern as the culmination of the “end run.”
Notably, Brandt had previously forecasted Bitcoin’s bullish ascent to peak at $200,000 by August or September 2025, revising his initial projection of $120,000.
Interpreting Brandt’s recent remarks suggests that the recent price correction may be construed as a healthy adjustment within a broader positive trend, potentially signaling readiness for the subsequent phase of Bitcoin’s price trajectory.
Nevertheless, the precise implications of Brandt’s assertion regarding the “end run” completion remain subject to interpretation, pending further elaboration or clarification.
