Peter Brandt: Bitcoin Could Fall to $40,000 Bottom, Nasdaq Index Shows Potential Topping Pattern

BlockBeats News, July 17th – Renowned trader and chart analyst Peter Brandt today stated that the daily chart of the Nasdaq 100 E-mini futures (NQ) may be forming a "diamond" pattern or has already formed a market top.

Additionally, Peter Brandt recently predicted in an interview that Bitcoin may first rally $10,000, then drop to $40,000, and form a bottom in early October 2026. Brandt issued a warning based on Bitcoin's historical cycle pattern, suggesting that Bitcoin may experience a false breakout. Currently, the price of Bitcoin is fluctuating around $60,000, facing short-term downside risks.

Brandt also emphasized his long-term bullish view on Bitcoin, expecting the price to reach $300,000 to $500,000 by 2029.