Peter Brandt Warns Bitcoin Might Drop to $58K–$62K Subsequent

Bitcoin trades close to $90.8K as Peter Brandt targets $58K–$62K after a breakdown, whereas CME gaps and on-chain losses elevate warning.

Bitcoin (BTC) stays below promoting strain after dropping key technical assist. Veteran dealer Peter Brandt has warned that the present construction nonetheless factors decrease. His focus is on the $58,000–$62,000 vary, which he considers the subsequent main space to look at following the current breakdown.

Peter Brandt Targets $58K–$62K

Peter Brandt wrote that “58k to $62k is the place I feel it’s going,” conserving his bearish view on Bitcoin. He shared a chart exhibiting a broadening high sample, also called a megaphone setup. The sample fashioned with wider swings earlier than the worth slipped by means of the decrease assist line.

After that breakdown, Bitcoin bounced and climbed again in direction of $102,200. Nonetheless, the transfer did not regain misplaced assist and reversed decrease, becoming the definition of a bearish retest. Brandt’s draw back zone additionally sits near $58,840, which matches the $58,000–$62,000 vary he referenced.

58k to $62k is the place I feel it’s going $BTC
If it doesn’t go there I’ll NOT be ashamed, so I don’t must see you trolls display shot this sooner or later
I’m incorrect 50% of the time. It does not trouble me to be incorrect pic.twitter.com/NDOuSrqLwa

— Peter Brandt (@PeterLBrandt) January 19, 2026

Bitcoin peaked close to $126,000 in early October 2025 earlier than reversing decrease. The drop confirmed a accomplished high construction and pushed BTC down into the November low. It later stabilized and moved right into a rising channel, however the rebound has not cleared key ceilings.

Notably, two resistance ranges stay in focus at $98,950 and $102,200. Bitcoin has struggled to shut above each zones. So long as the asset stays beneath them, patrons face a tricky restoration path.

In the meantime, the ADX (14) sits close to 33, which factors to a powerful development surroundings. With Bitcoin nonetheless buying and selling beneath key transferring averages, the studying helps the concept sellers nonetheless management the broader transfer.

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Bitcoin trades close to $91,000 at press time, down about 2% over 24 hours and 1% within the final seven days. Buying and selling quantity stands above $38 billion. Renewed geopolitical tensions and tariff rhetoric from US President Donald Trump have added strain to threat belongings, together with Bitcoin.

CME Gaps and On-Chain Loss Indicators

Brief-term merchants are additionally monitoring CME worth gaps forming round $93,000. Analyst CW said “a brand new CME hole has fashioned round $93,000,” including that BTC could “first fill the CME hole round $88.2k, after which the CME hole at $93k.” That outlook factors to a dip-and-rebound state of affairs if patrons defend the decrease zone.

On-chain knowledge provides one other layer of concern. CryptoQuant head of analysis Julio Moreno mentioned Bitcoin holders at the moment are realizing losses, with the 30-day Realized Web Revenue/Loss turning damaging for the primary time since October 2023.

Bitcoin holders realizing losses, for a 30-day interval since, late December for the primary time since October 2023. pic.twitter.com/OGsPYm8714

— Julio Moreno (@jjcmoreno) January 20, 2026

One other CryptoQuant analyst, MorenoDV_, additionally pointed to a attainable shift in sentiment primarily based on the Concern & Greed Index development. The analyst mentioned the 30-day common has crossed above the 90-day common for the primary time since Might 2025, describing it as a setup the place “short-term sentiment is enhancing sooner than the broader baseline.”

Even so, the analyst warned that the sign works finest as a affirmation and never a set off. If the short-term common fails to carry above the long-term line, it could counsel “optimism missing depth and conviction” throughout a fragile market part.