TLDR
- Peter Brandt identifies Bitcoin’s current downtrend as a “campaign selling” event.
- Bitcoin may reach $63,800 based on a technical breakdown and historical trends.
- Over $850 million in Bitcoin liquidations have occurred in the last 24 hours.
- The market faces synchronized deleveraging, impacting equities, commodities, and Bitcoin.
Legendary trader Peter Brandt recently warned about a calculated Bitcoin sell-off, suggesting that the cryptocurrency’s current price movement is not a random fluctuation but a systematic campaign. According to Brandt, the ongoing downtrend in Bitcoin (BTC) points to a more controlled and deliberate liquidation process by institutional investors. Brandt’s analysis indicates that Bitcoin could reach as low as $63,800 if this pattern persists.
Bitcoin Faces Pressure from Institutional Sellers
Peter Brandt has built his reputation on technical analysis and market predictions. In his latest outlook, he describes Bitcoin’s current market action as a “campaign selling” scenario. This term refers to a strategy in which large institutional players sell off their positions in a methodical manner, causing the price to steadily decline over time. Brandt highlights the consistent pattern of lower highs and lower lows over the past eight days, which supports this theory.
Hey crypto followers $BTC
The nature of the decline in Bitcoin (now 8 days of lower lows and highs) has all the finger prints of campaign selling, not retail liquidation
Seen this before hundreds of times over the decades
Never know when of course this pattern ends
Note to trolls… pic.twitter.com/THGJpez35F— Peter Brandt (@PeterLBrandt) February 5, 2026
The veteran trader also points out that Bitcoin is facing significant liquidation pressure. Over $850 million worth of liquidations occurred in just one 24-hour period, which is unusually high and signals deep market stress. Brandt sees this as a clear indication that the sell-off is not just a temporary dip but part of a larger, more calculated move to push prices lower.
$63,800 as the Next Key Support Level
Brandt’s technical analysis suggests that Bitcoin’s price could reach the $63,800 level in the near future. This projection is based on a pattern known as a “measured move” derived from the recent breakdown of a rising wedge pattern in Bitcoin’s chart.
The $63,800 target comes after Bitcoin has already tested the $70,000 level, which it failed to hold. Brandt notes that this target is a critical point for the market and could serve as a new battleground for price action.
For context, the wedge breakdown and the resulting price targets are similar to market movements seen during the October 2023 collapse. At that time, Bitcoin experienced a sharp decline, and Brandt’s analysis indicates that the current situation shares many of the same characteristics. Thus, the $63,800 level could be the next major support for Bitcoin if the current trend continues.
Synchronized Deleveraging Across Markets
It’s also important to note that the pressure on Bitcoin is not isolated to the cryptocurrency market alone. According to Brandt, other asset classes, including equities and commodities, are experiencing similar declines.
This synchronized downturn is referred to as a deleveraging phase, where many markets experience significant losses as investors adjust their portfolios in response to broader economic conditions.
Bitcoin, along with other risk assets, has been facing a wave of selling pressure, as many traders exit their positions to reduce exposure. This broad market correction adds to the challenges facing Bitcoin, reinforcing the idea that its price could fall further in the coming weeks.
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