Peter Brandt has a contrarian and bearish outlook for Bitcoin. He claimed that BTC might have topped out in this cycle.
saw some relief bounce on the 21st of August after July’s FOMC Minutes indicated that some policymakers advocated for rate cuts.In fact, August is BTC’s fifth month of price consolidation, raising doubts about whether the asset will hit a new ATH .signal“Current bull market cycle in $BTC will soon become the longest time post halving in history for a new ATH or, could indicate that new ATH is not in the cards.”However, other crypto analysts have disagreed with Brandt’s bearish outlook.
“Bitcoin OTC Desk Balances Soar to Two-Year Peak. Historically, increases in #Bitcoin OTC desk balances have been associated with declines in Bitcoin prices.”In conclusion, BTC had more upside potential if the historical trend seen in post-halving repeats. However, the expected rally could face risks from the rising BTC balance on OTC markets.
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