Brandt Adjusts Bitcoin Cycle Model, Eyes $600K Target

Veteran trader Peter Brandt has reassessed his Bitcoin cycle model after the market's recent behavior. According to Brandt, the June low may have been the bottom, not the October low he was initially expecting.

This change in timing raises the possibility of a new bull market being underway. However, Brandt still sees a risk of an early-October correction towards $65,000 to $68,000 or even as low as $61,000. This could potentially flush out late buyers who chased the recent rally above $84,000.

Brandt prefers following price action over assigning macro narratives to market moves. His longer-term outlook is considerably more bullish, with a potential bull cycle extending into late 2029. He sees Bitcoin reaching $300,000 to $600,000 if the June low holds.