Bitcoin today entered the orbit of a decline once again in the midst of sales in the crypto market. In particular, we witness this decrease while waiting for the US PCE inflation data, which is approaching market observers. This data will clarify the future stance of the Fed on interest rates. However, with the ongoing gloomy air on the market, Experienced Trader Peter Brandt says BTC can fall up to $ 70,000.

Peter Brandt points to Bitcoin price collapse!

As you followed from Kriptokoin.com, the price of BTC has fell to $ 85,000 today. In the midst of the gloomy air in the wider crypto market, experienced trader and market expert Peter Brandt indicate a future potential BTC price collapse. In an recent analysis, Brandt showed a graph showing that BTC could potentially fall to $ 76,700, or even around 70,000 dollars.

Brandt sharing the analysis, “This is not an unreasonable expectation,” he said. This shows that the expert believes that BTC can face a strong sales pressure and that it can draw BTC to around 70 thousand dollars.

Source: htl-nl

Will the bulls return after the US PCE inflation data?

The current decrease seems to be caused by investors waiting on the edge before the important US PCE inflation data. However, if the US PCE inflation is compatible with market expectations, it can significantly increase market sensitivity. In particular, the diminishing inflationist edition can help the US Federal Bank FED to act with a ‘pigeon policy interest’ plan. Usually, low -phases help to increase the trust of traders, which can increase the price of bitcoin.

Meanwhile, analyst Javon Marx also recently shared the rise forecast. In an recent X post, Marx stressed the rise of BTC from the previous 19 thousand dollars to $ 67,543. Comparing this to the current level, the expert predicted that if history repeats, BTC could reach a value between 116,600 and $ 118,800.

In addition, other experts expect BTC to have a potential break towards a new ADH. In terms of context, Michael Van de Poppe said for Bitcoin that the decreases were rapidly absorbed and the procurement pressure increased ”. Considering this, he pointed to a strong bull run for Bitcoin in the second quarter. However, some argue that Bitcoin price should overcome critical support of $ 90,000 in the future.

Source: Michael van also poppe