Search Results for: Peter Brandt

Renowned trader Peter Brandt recently shared a bearish outlook on Bitcoin, pointing to a chart pattern known as a pennant or flag. Bitcoin’s ongoing consolidation and uncertainties surrounding US debt ceiling talks contribute to the overall cautious sentiment.

Legendary trader Peter Brandt predicts potential Bitcoin price downfall amid U.S. debt ceiling dilemma and market volatility. Despite being bullish on a $40,000 target, bearish sentiment increases. Brandt, known for accurate past analyses, warns against dismissing downside risks and overconfidence in price predictions.

“Bitcoin has rallied by 70% since the beginning of the year. Markus Thielen, Matrixport’s Head of Research and Strategy, warns that should the trendline be invalidated, Bitcoin might face more significant losses. Careful observation and strategic adaptations will be key.”

The crypto market cap slid 2% last week, with Bitcoin briefly dropping below $26k amid investor panic over the US’s negative credit rating watch due to debt ceiling talks. Major altcoins such as Ethereum, XRP, Cardano, Polygon, and Solana also experienced fluctuations near key support levels.

The ongoing uncertainty surrounding the debt ceiling deal, plunging stocks and cryptocurrencies, and FOMC minutes release induces panic among investors. Bitcoin price tumbles over 2%, altcoins follow suit, and the US dollar soars to a 2-month high. Amidst escalating inflation, interest rate hikes, and nervous markets, investors must remain vigilant in their decision-making and explore new opportunities.

US Fed officials consider more rate hikes despite debt ceiling crisis, potentially impacting BTC price. St. Louis President James Bullard suggests raising interest rates twice this year, while Minneapolis Fed President Neel Kashkari believes in raising rates over 6% to curb inflation. Smart money seems more inclined to invest in Ethereum over Bitcoin, indicating a possible shift in investor preferences.