Veteran trader Peter Brandt has pointed out that Bitcoin has not reached a new all-time high (ATH) in over 30 weeks, which historically has led to severe market declines. Despite his generally bullish outlook for BTC, Brandt suggests that the ongoing market trend could result in a 75% collapse if Bitcoin fails to breach its ATH within this timeframe. Brandt notes that Bitcoin is currently 18% down from its ATH and is hovering near its 8-week simple moving average, indicating a potential weakness in the market. However, veteran trader Mike Alfred disagrees, stating that Bitcoin often defies technical analysis and should be evaluated based on its unique position in the financial system rather than past patterns. Brandt maintains his observations and reveals that Bitcoin is the largest asset in his personal portfolio, suggesting that his analysis is not about shorting the market but making a realistic assessment. At the time of writing, Bitcoin is trading at $60,607, down 3.51% for the week.



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