Peter Brandt, one of the vital well-known commodities merchants, has acknowledged that he has shorted Bitcoin (BTC).
Regardless of being a long-term holder of the flagship cryptocurrency, Brandt is at present bearish primarily based on the megaphone sample.
“No suggestions. It’s brutal. I hate when I’ve to bisect my mind. It’s truly painful. Principally occurs in shares,” Brandt mentioned in a current social media publish.
Again in August, Brandt acknowledged that there was a 30% probability that Bitcoin had already topped throughout the present cycle. The distinguished dealer predicted that BTC would ultimately be capable to soar all the way in which to $500,000 by November 2026.
Bearish “megaphone” sample
Brandt’s evaluation relies on the bearish megaphone sample, which is a formation that could be a broadening wedge that’s characterised by rising worth volatility.
In Bitcoin’s case, the sample noticed by Brandt seems to be a broadening prime. The higher trendline and the decrease trendline are spreading aside, which means that each the bulls and the bears have gotten extra aggressive.
A each day shut beneath the decrease trendline is more likely to see a bearish reversal.
Do others apart from me discover it a bit awkward intellectually/emotionally while you maintain opposite positions in accounts designed to commerce completely different methods/time frames?
As an investor I’ve owned Bitcoin for years
As a swing dealer I’m now quick $BTC futures primarily based on megaphone pic.twitter.com/bZZDwbypSh— Peter Brandt (@PeterLBrandt) October 30, 2025
The cryptocurrency reached a brand new all-time excessive of $126,080 on Oct. 6. Nonetheless, the main cryptocurrency is now on monitor to complete this month within the pink (which might be the very first October within the pink since 2018).
Earlier immediately, the cryptocurrency plunged to an intraday low of $106,464, but it surely has since recovered again above the $110,000 stage.
