Peter Brandt: Not optimistic about Bitcoin reaching a new high this year, expecting a retest of $60,000 around September or October.

BlockBeats message, March 31, according to Cointelegraph, famous trader and chart analyst Peter Brandt, who successfully predicted the 2018 Bitcoin crash, and Polymarket users who predicted Bitcoin reaching new highs in 2026 are both pessimistic about the outlook. Peter Brandt said, “I don’t think Bitcoin will make new highs in 2026—maybe we have to wait until the second quarter of 2027.” He also added, “All of this is speculation.” On Polymarket, the probability of Bitcoin returning to $120,000 in 2026 is only 15%.

Regarding the yearly low, Peter Brandt said February 6’s $60,000 may not be the lowest point of the year. He expects it could be retested in September or October, and perhaps even “slightly lower.” At that time, it will be the low point of the bear-market cycle, from which a new bull market will be launched. He also said his long-term logic for Bitcoin has not changed: “Bitcoin’s story is a store of value; whether you can build utility on Bitcoin may affect the price,” and he said he holds a neutral to bearish stance on all other cryptocurrencies.

Bitcoin analyst Willy Woo said on March 17 that, from a liquidity perspective, Bitcoin has completed about “one-third” of the bear market. SkyBridge managing partner Anthony Scaramucci also said last week that Bitcoin is currently in the bear-market phase of its four-year cycle, pointing out that he believes the established whale cohort following the four-year cycle could create a self-fulfilling prophecy. On the sentiment front, spot Bitcoin ETFs ended four straight weeks of net inflows, and recorded a net outflow of $296.18 million last week. The Crypto Fear and Greed Index reported 8 on Monday and has remained in the “extreme fear” range since March 20.