Legendary Trader Peter Brandt Warns of Bitcoin 'Campaign Selling': Why Move to $63,800 Is Next

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News According to veteran chartist Peter Brandt , the current eight-day downtrend on Bitcoin (BTC) shows all the hallmarks of a calculated campaign sell-off, not a random liquidation. His analysis points to two critical levels now in play: the already-breached $70,000 and a far more ominous target at $63,800, based on a measured move from the recent wedge breakdown. With over $850 million wiped out in liquidations and fear metrics collapsing, this is not a normal dip. Advertisement If Brandt’s structure plays out, the market may be staring down a deeper flush that few retail holders are ready for. Who is selling Bitcoin? In his latest public Bitcoin outlook, Brandt pointed to the ongoing eight-day streak of lower highs and lower lows in BTC’s price , characterizing the formation as a textbook example of "campaign selling" — in which institutional-sized flows systematically get rid of excessive exposure to the cryptocurrency. HOT Stories Mark Dow: I Want Bitcoin to Go to Zero Crypto Market Prediction: Will XRP Break Bullish Trap? Shiba Inu's (SHIB) 3 Bullish Targets, Ethereum's (ETH) 300-Day Record Broken His current projection outlines two major price zones: $70,000, which Bitcoin is already testing, and a deeper target near $63,800. Advertisement Source: Peter Brandt Price action confirms the stress. Since the beginning of 2026, BTC has broken down from a rising wedge pattern, lost both short-term moving averages and is being pushed lower by continuous liquidation pressure worth $850 million in just 24 hours alone. In this case, $63,802.54 emerges as the full measured-move target, going along with breakdown dynamics last seen in the October 2023 collapse. You Might Also Like Thu, 02/05/2026 - 07:57 Tim Draper Reveals Crucial Bullish Nuance About Bitcoin: Details By Yuri Molchan It is important to note that the pain is not limited to crypto: equities and commodities are also deep in red this week, reinforcing the idea of a synchronized deleveraging phase. Advertisement Brandt’s annotated chart sketches out a technical playbook, not a gut call, even though he has 50 years of experience. Each price level, he points out, is derived from historical repetition — not speculative guessing. And as the formation continues to unfold, the lower boundary — $63,800 for BTC — could become the market’s next battleground. #Bitcoin #Bitcoin News #Peter Brandt #Bitcoin Price Prediction