Veteran trader Peter Brandt continues to express skepticism toward Ethereum (ETH), stating that it remains weak against Bitcoin (BTC). Despite maintaining his long-term bearish stance on ETH, Brandt does not entirely dismiss the possibility of a short-term rally. The crypto market has experienced extreme volatility, with massive liquidations causing significant price fluctuations.
Bitcoin’s Next Move: $136K or $70K?
Brandt predicts two possible scenarios for Bitcoin in the coming months. In the first, BTC could surge to an all-time high of $136,000. However, in the second scenario, BTC may retrace to $70,000, filling an unclosed CME futures gap from November. These opposing possibilities highlight the uncertainty currently dominating the crypto market.
Is a Short-Term ETH Rally Possible?
Although Brandt remains unconvinced about Ethereum’s long-term potential, he acknowledges that ETH could experience a temporary price increase. He emphasizes that the ETH/BTC trading pair reflects Ethereum’s weakness, reinforcing his view that Bitcoin will continue to dominate the market.
Despite this, Brandt advises traders not to overlook Ethereum’s short-term price movements. While BTC remains the primary driver of market trends, ETH could still present trading opportunities in the near term.
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