Veteran Trader Peter Brandt Says Bitcoin Could Be Headed Towards “$58k to $62k”

• Legendary trader Peter Brandt has predicted that Bitcoin could fall to between $58,000 and $62,000 within the next two weeks.
• Federal Reserve interest rates and new US-EU trade tensions over Greenland are causing a “risk-off” mood across the market.
• A “rising wedge” formation on the daily charts now indicates that the recent upward strength is fading.

Veteran trader Peter Brandt is now warning investors of an incoming correction.

Brandt is famous for calling the 2018 market crash, and is warning investors that the asset could drop to the $58,000 range.

This outlook is coming at a time when the world’s financial conditions are tightening, and geopolitical friction is growing between world leaders.

Brandt Says Bitcoin Could Crash

According to Brandt, his outlook isn’t just based on lines on a chart.

Before now, the Federal Reserve has been keeping interest rates between 3.5% and 3.75%, which many analysts refer to as “restrictive”.

58k to $62k is where I think it is going $BTC
If it does not go there I will NOT be ashamed, so I do not need to see you trolls screen shot this in the future
I am wrong 50% of the time. It does not bother me to be wrong pic.twitter.com/NDOuSrqLwa

— Peter Brandt (@PeterLBrandt) January 19, 2026

This policy limits the amount of cash flowing into assets like crypto, and as long as borrowing costs are high, institutional buyers will continue to move their money into safer options.

Trade tensions are also a major part of the recent price slide.

President Trump even recently announced plans to impose 10% tariffs on several European nations from February 1, over the purchase of Greenland.

Technical Patterns Show a Trend Reversal

Peter Brandt shared his analysis on X and pointed out a “rising wedge” pattern that has developed over the last two months.

When it comes to technical trading, this specific shape tends to appear when a price is losing steam. As the price moves higher but the volume stays low, it creates a “wedge” that tends to break to the downside.

Brandt said that if this pattern completes, the asset will fall between 33% and 37% from its recent highs.

Institutional Inflows and Options Data

Despite the grim prediction from Brandt, there are a few good pointers from the institutional side.

According to CoinShares, crypto exchange-traded products saw inflows of over $1.5 billion recently. This shows that while short-term traders are selling, some long-term funds are still accumulating.

However, the options market is telling a different story. Data from Deribit shows that there is a 30% chance that the asset will trade below $80,000 by June.

Adding to the news, Lookonchain recently tracked a wallet from 2013 that moved 909 BTC to a new address. Another early adopter also sold 500 BTC for a profit of nearly $48 million.

These OGs moving their coins means that they could either be preparing to lock in gains or are readjusting for the market’s next phase.

The Battle for Greenland

In all, the dispute over Greenland has turned into a major market mover.

Just as the US administration pushes for a purchase agreement with Denmark, the threat of rising tariffs to 25% by June has spooked European investors.

👀 🇺🇸 Trump shares image of European leaders alongside a map of Canada & Greenland with the US flag.

He also posts image of himself planting a US flag in Greenland. pic.twitter.com/9fRxJuIktR

— BITCOIN EXPERT INDIA (@Btcexpertindia) January 20, 2026

This kind of friction has caused a “flight to safety,” where capital moves out of crypto and into gold. In fact, gold recently hit a record high of $4,680 an ounce as more investors weighed the chances of a price drop.

The next few weeks will be a major test for the entire crypto space, and investors will be listening to upcoming speeches from Jerome Powell and other Fed officials.