According to veteran commodities trader Peter Brandt, the recent bounce in the price of Bitcoin has notable implications. Brandt has previously highlighted a head-and-shoulders pattern on Bitcoin's daily candle chart and suggested three possible outcomes, including a drop to $75,000 or a bear trap. Following Monday's price action, Brandt appears to be leaning more towards the second possibility. Bears have taken significant losses with the recent bounce, with shorts losing $133 million compared to only $16 million for longs. Bitcoin is currently trading just below $95,000, representing a nearly 2% gain over the past 24 hours.



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