Why $70K Would Be the Next Stop for Bitcoin Price According to Veteran Trader Peter Brandt

Highlights:

• Bitcoin price drops 2% to $84,999 as bulls lose support level. 
• Crypto analyst Peter Brendt foresees a potential downside to $70,000 in Bitcoin price.
• Can BTC bulls regain dominance as Javon Marks highlights a potential rally to $118,000?

The Bitcoin price is dwindling like a dead weight in the air, as it has lost its key support zone. BTC/USD is currently trading at $84,999, indicating a 2% plunge in the past 24 hours. Despite the outlook, its daily trading volume is recovering, surging 18% to $30.3 B. This shows that market activities are rising, which may trigger investor confidence. 

Meanwhile, a well-known analyst, Javon Mark, has predicted a positive outlook for Bitcoin’s price despite the bolstered bearish sentiment. According to Marks on X, BTC has increased its price significantly from $19K to $67,543 in the past. Based on historical patterns, he anticipates the price of BTC will return to that range, $116,600 to $118,800.

At $19K Bitcoin, we noticed a price breakout with $67543.26 as the target and a bull divergence + breakout suggesting a trend reversal and a >3X to reach it.

Today, $BTC stands at ≈$87,590, holding above our older target with $116,600 – $118,800s as the current target coming… https://t.co/JUwsLJMhHJ pic.twitter.com/Geo6ZaPhH1

— JAVON⚡️MARKS (@JavonTM1) March 27, 2025

Bitcoin Price Outlook

The Bitcoin price is battling the market’s bearish bias, as the pioneering coin trades below the key moving averages. The bulls see nothing but dust as the odds tilt towards the bears. The bulls have lost key support at $85,684, as Bitcoin risks a fall to $70,000. If the downward pressure persists, the next immediate support lies at $81,013, 78,433, and a deeper correction at $70,000.

Further, a well-known analyst, Peter Brandt, has highlighted a potential Bitcoin correction to the $70,000 mark. The market alert issued by Peter Brandt causes Bitcoin holders to question the potential threats within the financial market. The alert requires Bitcoin holders to proceed with prudence because the market has shown vibrant upward movement during recent months. The anticipated $70K crash would result in substantial investment losses, which demand proper decision-making from traders.

This is not an unreasonable expectation https://t.co/8LRVBjBv2A

— Peter Brandt (@PeterLBrandt) March 28, 2025

Further, the decreasing trading open interest, according to on-chain metrics data, suggests a possible BTC drop. Moreover, the RSI indicator has plunged below the 50-mean level, bolstering the bearish sentiment. 

Will BTC Rebound After the US PCE Inflation Report?

The US PCE inflation data is a big driver for Bitcoin’s next move. However, the widespread blossoming of the Bitcoin price depends on inflation being where it’s expected to be. This will mean that the Fed will be more neutral, and Bitcoin will be historically bullish on the interest rate scale. 

Further, if the bulls gain strength at this level, they could ignite a rebound in the market. If they flip the $85,685 mark, which coincides with the 200-day MA, into support, it could ignite a short-term bullish aspect. A decisive breakout above the $89,355 mark would invalidate the downward trend, causing more upside. 

A decisive candlestick break above this level could see the bulls target $94,782, 98,901, and 105,872. In the meantime, the current rising trading volume suggests a slight shift in momentum, as trading activities surge. Traders should closely monitor the next few daily candlestick formations to confirm Bitcoin price direction in the market.