According to U.Today, Bitcoin, the leading cryptocurrency by market capitalization, experienced a significant drop over the weekend, reaching lows of $60,822 before partially recovering to approximately $64,438. The exact reason for the market downturn remains uncertain, but some speculate that reduced liquidity may have contributed to the lower prices.
In response to the market crash, seasoned trader Peter Brandt offered his perspective, suggesting that Bitcoin has completed an 'end run'. The term 'end run' typically refers to a strategic move that involves bypassing a challenge or obstacle. In the context of Bitcoin, it could suggest that the market has navigated a difficult situation due to its price crash near $60,000. Brandt's 'end run' comment might also hint at the completion of a specific pattern in Bitcoin's price movement.
Brandt identified a pattern in the Bitcoin chart that resembles a symmetrical triangle pattern. This pattern usually indicates a period of consolidation before the price is compelled to break out or down. A breakdown from the lower trend line signals the beginning of a new bearish trend, while a breakout from the higher trend line signifies the start of a new bullish trend. In the chart, Brandt referred to the breakdown from this pattern as the 'end run'.
Previously, Brandt had predicted that Bitcoin's bull run would peak at $200,000 by August or September 2025, revising his initial forecast of $120,000. His recent remarks might suggest that the recent price drop is a healthy correction within a larger positive trend, possibly indicating a sense of completion and readiness for the next phase of Bitcoin's price movement. However, without additional details, Brandt's assertion of the 'end run' being completed remains subject to interpretation.