$BTC
Peter Brandt Warns Bitcoin May Mirror 2021 Crash
Legendary trader Peter Brandt has raised alarms over Bitcoin’s current chart structure, suggesting it may be repeating the same bearish pattern that led to its 2021 collapse.
In a recent post on X, Brandt shared a weekly chart showing Bitcoin in a consolidation phase near its recent highs—similar to the sideways movement seen in late 2021 before Bitcoin plunged over 50%. His chart highlights yellow zones comparing both periods, warning that the current range above $104,000 could precede another sharp decline.
“November 2021 all over again?” Brandt captioned the chart.
While some users countered his view, pointing to stronger fundamentals and higher mining costs as reasons for stability, Brandt remained unconvinced. He argued that production costs mean little in commodity markets, as producers continue to supply regardless of profitability—whether it’s Bitcoin, gold, or grain.
Bitcoin remains tightly range-bound, and while many traders are hopeful for a breakout, Brandt’s analysis offers a sobering reminder that technical patterns often trump sentiment.
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