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Trader Peter Brandt warns Bitcoin's current rise isn't a strong bullish signal, doubts $250K target for 2026.

Analyst Insights
28 Apr 2026
Crypto news
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Neutral
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Veteran trader Peter Brandt cautions that Bitcoin's recent price rise within an ascending channel does not confirm a strong bullish bottoming pattern, casting doubt on forecasts that Bitcoin could reach $250,000 by 2026. Bitcoin has rebounded from a February low near $60,000 to trade around $76,000 to $78,000, but Brandt notes the channel pattern suggests limited momentum without a breakout above resistance. On-chain data shows fresh capital inflows and improved liquidity, but retail participation remains weak, indicating cautious market sentiment. Brandt advises traders to be cautious as the current price structure does not yet support aggressive price targets.

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