Bitcoin’s Bull Cycle May Peak This Month, Peter Brandt Says

Veteran trader Peter Brandt has opined that the Bitcoin bull cycle may peak this month even as the Fed prepares to cut rates.
By Boluwatife Adeyemi
An image of Peter Brandt to represent his take on the Bitcoin bull cycle

Highlights

  • Peter Brandt suggested that BTC may top this month based on historical cycles.
  • There is the possibility that the cycle may be extended.
  • This comes as the Fed prepares to lower rates by 25 bps.

Veteran trader Peter Brandt has given his opinion on when the Bitcoin bull cycle may peak, as the flagship crypto continues to range sideways. Meanwhile, there is also the possibility that the cycle may extend, especially with the Fed set to lower interest rates, which could lead to an influx of new liquidity.

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Peter Brandt Gives Take On Bitcoin Bull Cycle

In an X post, the veteran trader responded in the affirmative when another analyst, JDK, asked him if the cycle would peak this month. However, Brandt didn’t provide any explanation for why he thinks so.

JDK has laid out theories on why the Bitcoin bull cycle may peak this month and why it could extend beyond this month. The analyst remarked that the Halving cycle signals that the market is entering the final month of this bull run.

On the other hand, JDK stated that the lengthening cycles point to a potential October to November window for this BTC bull cycle to peak. He noted that cycle tops aren’t about a date or a price and that it is more about the state of the market, which he believes isn’t at a peak yet.

Meanwhile, Peter Brandt’s opinion would suggest that $124,000 may have been the peak for the BTC price. Notably, the flagship crypto has been on a downtrend since hitting the $124,000 level last month.

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Rate Cuts May Not Be Bullish For BTC

Market expert Anthony Pompliano recently suggested that the imminent Fed rate cuts may not be bullish for the Bitcoin price or serve as a catalyst to extend the bull cycle. He alluded to a Binance Research report, which highlighted BTC’s performance in the 2019 and 2024 rate cut cycle.

In 2019, the flagship crypto displayed a “buy the rumor, sell the news” pattern, in which it surged from around $4,000 to $13,000 in the months leading up to the rate cuts. However, the price declined once the Fed began to lower interest rates.

Meanwhile, Binance Research noted that in the 2024 rate cut cycle, the Bitcoin price rally following the cuts coincided with the election cycle. As such, one cannot solely attribute the price increase to the rate cuts. Notably, BTC reached $100,000 for the first time following Trump’s victory in November last year.

As CoinGape reported, there is currently a 90% chance that the Fed will make a 25 bps rate cut at the FOMC meeting next week. The PPI and CPI data, which dropped yesterday and today respectively, have further strengthened the case for a rate cut.

Pompliano warned that the rate cuts may not be what eventually drives Bitcoin’s price higher, as history suggests. However, he added that he believes that BTC is going higher.

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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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