👀Peter Brandt: Is $BTC from 2021 Repeating?

The legendary trader Peter Brandt has raised alarms in the #bitcoin market, suggesting that the current price behavior could be a concerning echo of the 2021 collapse. Brandt shared a chart showing a lateral consolidation similar to that which preceded Bitcoin's drop of over 50%.

Despite the optimism of some, who point to stronger fundamentals and mining costs as support, Brandt disagrees. He argues that fundamentals are often clearer at peaks and that production costs do not dictate commodity prices. His warning invites caution, reminding us that technical history may weigh more heavily than the current market sentiment.