Bitcoin Plunge Alert: Peter Brandt Predicts $58,000 Crash as Bearish Momentum Intensifies

Veteran trader Peter Brandt just dropped a bombshell prediction that's sending shockwaves through crypto markets.

The Technical Reality Check

Bitcoin's recent breakdown confirms Brandt's bearish thesis—the king crypto appears headed toward his projected $58,000 target. Market structure shows clear distribution patterns, with institutional players quietly exiting positions while retail investors cling to hopium.

Why This Correction Matters

This isn't just another dip. Brandt's analysis suggests we're witnessing a fundamental shift in market dynamics. Trading volumes have dried up, leverage is getting flushed, and that 'number go up' mentality is facing its sternest test since the last cycle.

The Silver Lining for True Believers

Seasoned crypto veterans know these shakeouts create generational buying opportunities. While traditional finance pundits will inevitably trot out their 'I told you so' speeches, the underlying technology continues evolving at breakneck speed.

Remember—in crypto, the most painful corrections often precede the most spectacular rallies. Just ask anyone who bought during the 2018 bloodbath or the COVID crash. Sometimes the market needs to remind speculators that easy money doesn't exist, no matter what your favorite influencer claims.

TLDR

• Peter Brandt warns that Bitcoin’s price could drop to $58,000 due to a broadening top pattern and continued market weakness.
• Bitcoin has experienced eight consecutive days of lower highs, signaling a lack of recovery and further bearish movement.
• Data from Glassnode shows traders are rotating out of Bitcoin and into altcoins such as Layer-1s, Layer-2s, and AI tokens.
• Prediction markets are pricing in a 44% chance of Bitcoin falling below $80,000, reflecting growing market uncertainty.
• Peter Schiff reiterates his criticism of Bitcoin, stating it cannot serve as a payment system or store of value.

Bitcoin continues to slide deeper into weakness, with a bearish pattern emerging on the charts. Veteran trader Peter Brandt has identified a broadening top pattern, suggesting Bitcoin’s price could drop toward $58,000. The warning comes after eight consecutive days of lower highs, signaling a lack of market recovery.

Brandt, who has been tracking Bitcoin’s movements, highlighted the market’s struggle since November 11. He noted that Bitcoin has been in a downward trend since then, with no signs of a strong reversal. According to Brandt’s analysis, this price action suggests a possible decline to $58,000, a critical support level for the cryptocurrency.

The veteran trader explained that bitcoin had broken down from a wide consolidation zone. This zone had held for several months, but the market’s current weakness indicates a breakdown. If market sentiment continues to worsen, the crash could accelerate, with Bitcoin approaching the $58,000 level sooner than expected.

Bitcoin Struggles as Altcoins Outperform

New data from Glassnode reveals a shift in market sentiment. The analytics platform shows that other major sectors are outperforming Bitcoin. Layer-1s, Layer-2s, AI tokens, and DeFi assets have all outperformed Bitcoin in recent days.

During last week's downturn, altcoins have shown unusual relative strength vs BTC. While uncommon, it follows a long period of alt underperformance. Most sectors are actually outperforming BTChttps://t.co/Ytg4JoQB2h pic.twitter.com/egdjqtCJ6Z

— glassnode (@glassnode) November 19, 2025

This shift comes after a prolonged period of underperformance in altcoins earlier in the year. The trend now shows that traders are moving away from Bitcoin. The data suggests that the market is absorbing heavy losses, with many traders turning their attention to other sectors within the crypto space.

As Bitcoin struggles, traders are losing confidence in the digital asset. This behavior change reflects a broader trend where Bitcoin is no longer the market leader it once was. Many market participants are waiting for clearer signals before making further purchases in Bitcoin.

Prediction Markets and Peter Schiff Reflect Growing Bitcoin Bearish Sentiment

Prediction markets are also reflecting a bearish outlook for Bitcoin. Kalshi data now shows a 44% chance that Bitcoin will fall below $80,000 this year. The market expects greater volatility ahead as traders reposition in response to potential new lows.

Peter Schiff, a long-time critic of Bitcoin, has added fuel to the ongoing debate. Schiff stated that Bitcoin cannot serve as a payment settlement system. He also emphasized that stablecoins WOULD be better suited for that purpose.

Bitcoin has no future. It’s not a good medium of exchange for payments. To the extent you want to use crypto, even @CathieDWood admits stablecoins are better. If you also want a store of value, tokenized Gold wins hands down. The race to get out of Bitcoin is on. Don’t be last.

— Peter Schiff (@PeterSchiff) November 19, 2025

Schiff reiterated his criticism of Bitcoin as a store of value. His comments, which often come during times of market volatility, have added pressure to an already fragile market.