Key highlights:
- Grayscale said BTC could bottom towards the latter part of the year.
- Past crashes have seen drawdowns of around 80%, which this hasn’t hit yet.
- Peter Brandt also predicted a cycle low for October 4, 2026.
Grayscale said in a new report that the
Peter Brandt also sees a possible bottom in October
Veteran trader Peter Brandt shared that the market could reach its cycle low on October 4, 2026. He also drew his conclusion from Bitcoin’s previous falls.
Based on that pattern, he said the coin could still fall below $50,000 and move into the upper $40,000 range before a durable bottom forms. Brandt had even previously shared that he is considering dumping BTC.
He also revealed that investor sentiment does not yet look like the type of panic usually seen when the coin falls.
According to him, true bottoms happen when investors lose total confidence and rush to sell. He reiterated that right now, the market sentiment is balanced and not fearful.
“Right now it’s neutral. Markets don’t bottom on neutral sentiment. Markets bottom on panic and volume,” Brandt said.
Source: TradingView
Meanwhile, the sentiment around Bitcoin looks to have improved in recent weeks. Bitcoin ETFs especially have reversed their course, now maintaining a consistent streak of inflows. The fund continued its positive streak on Wednesday, recording $68.99 million in inflows, according to SoSoValue data.
Source: SoSoValue data; BTC ETF daily inflows
Source:: Grayscale Says Bitcoin Bear Market Is Far From Over, Sets October Timeline