All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Peter Brandt warns Bitcoin’s rare broadening top mirrors the 1970s soybean crash, risking a steep decline.
- Despite bearish signals, some analysts still predict a major rebound toward $250,000 before the cycle ends.
Veteran trader Peter Brandt has cautioned that Bitcoin’s latest chart pattern resembles the soybean market collapse of the 1970s, when prices plunged by nearly 50%. Brandt described the current setup as a “rare broadening top,” a formation often associated with market peaks.
According to Brandt, if this pattern unfolds in a similar manner, Bitcoin could drop toward the $60,000 range. “Bitcoin is forming a rare broadening top on the charts. This pattern is famous for tops,” he said. “In the 1970s, Soybeans formed such a top, then declined 50% in value.”
Brandt also noted that such a downturn could impact corporate holders like Michael Saylor’s firm, Strategy (MSTR). The company’s stock has already fallen 10.13% over the past month as its holdings face pressure from declining net asset values.
Analysts Split Over Bitcoin’s Next Move
Despite Brandt’s warning, several analysts expect another strong rally before this market cycle ends. Some forecasts suggest it could reach as high as $250,000. BitMEX co-founder Arthur Hayes is among those predicting further upside, viewing current weakness as part of a broader accumulation phase.
Historical data provides some encouragement for bulls. CoinGlass reports that Bitcoin’s fourth quarter tends to deliver an average return of 78.49%. October, in particular, is often a positive month, though this year’s sentiment has softened amid broader financial market concerns.
Recent volatility was intensified after US President Donald Trump’s tariff announcement rattled equities and digital assets. The market reaction erased gains from earlier in the month and pushed Bitcoin sentiment sharply lower.
21Shares investment specialist David Hernandez said Bitcoin’s “opportunity window” could reopen if inflation readings from the US Consumer Price Index (CPI) show signs of easing.
Extreme Fear Reading Signals Market Stress
The Crypto Fear & Greed Index now shows an “Extreme Fear” reading of 25, reflecting heightened caution among traders. Trading account AlphaBTC commented that Bitcoin “really needs to hold here, keeping the recent higher lows in tack and have another attempt at the monthly open where it was rejected yesterday.”
During the past 24 hours, Bitcoin has traded between $107,000 and $113,000. That range saw roughly $651 million in futures positions liquidated across exchanges, according to CoinGlass. Data showed $352 million in long positions and $298 million in shorts were wiped out as traders reduced leverage.
Crypto VIP Signal reported that Bitcoin’s failure to maintain levels above $111,000 shows that selling pressure is still present. The analysis noted that the cryptocurrency is retesting the $107,000 support zone, which remains an important level for maintaining market stability. A break below that level could trigger heavy selling pressure in the market.
#Bitcoin has struggled to maintain the $111,000 level and was rejected from that point. The #price is now retesting the #support area and must hold the $107,000 level. A break below this will lead to further #selling pressure in the #market. pic.twitter.com/GQ7bgNIKNY
— Crypto VIP Signal™ (@CryptoVIPsignal) October 21, 2025
