Brandt Sees No Urgency for Bitcoin Bull Market

Peter Brandt, a renowned trader, has stated that there is no indication of an imminent bull market in Bitcoin. According to his analysis, the current price structure does not suggest a trend change.

In a recent tweet, Brandt mentioned that as a classical chartist, he sees nothing to suggest a bull market is urgent. This assessment is based on the weekly chart of the BTC/USD pair, which maintains a bearish trajectory after breaking the rising wedge formation near the highs of the current cycle.

The price has lost support from the 50-week simple moving average and has fallen below the Ichimoku Cloud. Historically, sustained bullish phases require the recovery of both indicators, suggesting that the risk of additional corrections will prevail as long as the price does not overcome the cloud's resistance.

Brandt estimates that a cyclical price minimum is not projected before October 2026, reinforcing the hypothesis of a prolonged sideways range in the spot markets. Furthermore, on-chain data from CryptoQuant shows the reactivation of 1,246 BTC that were inactive for periods between three and ten years, which may precede phases of liquidity or potential sale.