Peter Brandt, a veteran of the financial markets with experience dating back to the 1970s, has released a new analysis on Bitcoin’s (BTC) price trajectory, emphasizing the significance of post-halving market behavior.
Brandt notes that substantial gains often follow Bitcoin’s halving cycles. He views the current price stagnation since March 2024, when Bitcoin reached its latest all-time high, as a temporary pause in an overall upward trend. He forecasts a price target of $135,000 for August or September 2025, suggesting that Bitcoin could not only surpass the six-figure mark but also rise by 35% within the next year. However, he cautions that if Bitcoin falls to $48,000, these bullish projections would be invalidated.
At present, Bitcoin is trading at approximately $61,800. After a failed attempt to breach the critical resistance level near $65,000 in late September, it has since found support in the low $60,000s. The cryptocurrency is currently experiencing a phase of consolidation, often described as “chop,” where traders are caught in a narrow price range without a clear direction.
Looking ahead, upcoming macroeconomic data from the U.S. could serve as a catalyst for Bitcoin’s price movement. Traders are particularly focused on the imminent release of the monthly Consumer Price Index (CPI) data and notes from the Federal Open Market Committee (FOMC), both of which could influence market sentiment in the coming days.
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