A crypto analyst warns Bitcoin’s bottom may not be in, flagging a potential slide toward the $40,000 support zone amid weakening market structure and macro headwinds.
Veteran commodity trader Peter Brandt has warned that Bitcoin’s decline may not be over, suggesting the cryptocurrency could fall further toward the $40,000 to $49,000 range before finding a true bottom.
Peter Brandt Flags Further Downside Risk
Brandt, a chartist with decades of trading experience, indicated that a further Bitcoin decline to $49,000 remains possible. The warning adds to a growing chorus of bearish technical calls as Bitcoin continues to trade well below its previous highs.
The call aligns with a broader analyst warning that Bitcoin could slide toward the $40,000 zone, with the bottom potentially not yet in place. The $40,000 level served as a key consolidation zone during Bitcoin’s 2021-2022 cycle and would represent a significant retracement from recent levels.
Multiple Signals Point to a Premature Bottom Call
The bearish outlook is not limited to a single voice. Multiple market signals suggest it may be too early to declare a Bitcoin bottom, according to a separate analysis. Traders hoping for a quick recovery may need to exercise patience as structural weakness persists.
Meanwhile, an analyst who correctly called the 2025 Bitcoin top has issued a fresh price warning, adding credibility to the bearish case. Accurate top-callers tend to draw attention when they weigh in on potential bottoms, and this particular outlook suggests continued caution. Previous Bitcoin drawdowns, including those that played out in 2022 when BTC tested critical lower support levels amid heavy liquidations, have shown that bottoming processes can take longer than most market participants expect.
What Would Shift the Outlook
Not all analysts share the same degree of pessimism. A CoinDesk report from earlier in March noted that Bitcoin’s bottom may be nearing when measured against gold, suggesting that relative valuation metrics could offer a more nuanced read than dollar-denominated price alone.
Separately, one analysis argued that Bitcoin’s price bottom is close, though “close” in crypto markets can still mean weeks or months of sideways or lower price action.
For the bearish thesis to be invalidated, Bitcoin would likely need to reclaim and hold above the key resistance levels it has recently lost. A sustained move back above those zones on strong spot volume would suggest that sellers have been absorbed and demand is returning. In the broader crypto ecosystem, shifts in institutional crypto service expansion and evolving regulatory frameworks in major markets could also influence Bitcoin’s trajectory.
Until then, Brandt’s $49,000 target and the broader $40,000 zone warning give traders specific levels to watch. How Bitcoin behaves around those price points, particularly whether selling accelerates or dries up, will likely determine whether the current decline represents a healthy correction or the beginning of a deeper drawdown.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
