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Peter Brandt: The $250,000 Bitcoin target by 2026 seems unlikely
Crypto World News reports that veteran trader Peter Brandt is skeptical about Bitcoin reaching $250,000 by 2026. He warns traders not to interpret recent price movements as the start of a strong breakout. Brandt points out that Bitcoin has formed an ascending parallel channel over the past few weeks, which may allow for further gains but does not confirm the formation of a major bottom. The current Bitcoin trading price is between $76,000 and $78,000, having rebounded after a sharp decline. Brandt’s analysis shows that Bitcoin is moving upward within a controlled channel, indicating short-term strength, but if buyers fail to break through resistance levels, momentum could be limited. On-chain analyst Ali Martinez notes that the share of Bitcoin held by buyers has fallen below 7% over the past month, indicating weakening market activity. In the past 30 days, approximately $3 billion has flowed into the crypto market, suggesting market liquidity is beginning to improve. However, Brandt remains cautious about the $250,000 target, believing that the current structure does not support such an aggressive forecast.