Veteran trader Peter Brandt has stirred discussions in the crypto community by predicting a possible Bitcoin selloff. Despite this, Brandt remains optimistic about BTC’s long-term future, sparking mixed reactions from market participants.
Could a Bitcoin Selloff Be Imminent?
As Bitcoin edges closer to the $100,000 mark, market sentiment remains split. Many experts warn of a potential selloff as profit-taking could trigger a slight pullback. Veteran trader Peter Brandt recently shared his thoughts on X, suggesting that some investors might sell their holdings at this psychological milestone.
However, Brandt added an intriguing twist. While he acknowledged the possibility of a short-term selloff, he predicted that Bitcoin would continue its rally, possibly reaching $120,000. He further emphasized that Bitcoin’s price is unlikely to drop significantly, reinforcing his optimistic outlook.
Market Experts Weigh In
Brandt isn’t the only one forecasting volatility near $100K. Crypto market expert Crypto Rover recently noted the presence of a “huge sell wall” at this level. This means many investors might offload their holdings once Bitcoin hits this key target, potentially slowing its ascent.
Similarly, Ali Martinez highlighted concerns about liquidation levels. Martinez pointed out that $1.89 billion in liquidations could occur if Bitcoin reaches $100,625, signaling the risk of a temporary pullback.
Long-Term Outlook Remains Bullish
Despite short-term uncertainties, the long-term outlook for Bitcoin remains promising. Martinez cited historical trends in a separate post, predicting that Bitcoin could peak between $173,000 and $461,000 by October 2025.
Current BTC Market Status
Bitcoin has seen a slight decline, trading at $98,614 after hitting a 24-hour high of $99,655, marking a new all-time high. However, trading volume has dropped by 29%, and BTC Futures Open Interest has decreased by 2% in the last 24 hours, indicating that investors are pausing after the recent rally.
