Peter Brandt Predicts Bitcoin Will Drop to $40,000, Nasdaq Index May Have Topped

Famous trader Peter Brandt stated that the daily chart of Nasdaq 100 mini futures may form a "diamond" pattern, indicating a market top. Brandt predicts that Bitcoin may first rise by $10,000, then drop to $40,000, forming a bottom in early October 2026. He warned that Bitcoin could experience a false breakout, with the current price around $60,000 facing short-term downside risks. Nevertheless, Brandt remains optimistic about Bitcoin's long-term prospects, expecting the price to reach between $300,000 and $500,000 by 2029.

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