Bitcoin Hits $80K as ETF Inflows Surge, Brandt's $250K Forecast

Veteran trader Peter Brandt has updated his bold prediction for bitcoin's future price trajectory, now suggesting the cryptocurrency could reach $250,000 by 2029. According to latest reports from CoinDesk, Brandt's revised forecast includes a more detailed timeline, suggesting that the $250,000 target could be achieved by late 2029. The updated prediction aligns with Bitcoin's historical four-year halving cycle, which typically sees bull runs peak 16 to 18 months post-halving, followed by bear markets. Brandt's analysis is based on Bitcoin's past cycles, where the cryptocurrency has repeatedly peaked about 16 to 18 months after a halving and then entered a bear market lasting roughly a year. The current break above $80K represents a potential catalyst for this forecast, as it demonstrates strong institutional and retail demand entering the market.

As reported by CoinDesk, Brandt's updated prediction includes a specific timeline for the current market phase. The veteran trader suggests that bitcoin will hit $250,000 only after a prolonged bottoming process expected to last until September or October 2026. However, the recent break above $80K suggests that market dynamics may be accelerating faster than previously anticipated. Analysts are now divided on whether this represents the start of a sustained breakout or just a temporary rally. DonAlt highlights key sentiment levels, stating that 78K+ makes people cautiously bullish, but 87K+ is where full bullish acceleration likely kicks in. Meanwhile, Plan C takes a more bullish stance, suggesting that once Bitcoin stabilizes over $80,000, it could drive the price closer to $90,000 and then reflexive surge takes us back to $100,000. The current breakthrough is supported by whales accumulating around 270,000 BTC over the past 30 days, the largest buying spree since 2013, and exchange reserves dropping to a 7-year low.

From a technical perspective, the outlook remains mixed despite the breakthrough above $80K. Aaron Dishner notes that Bitcoin is technically strong bullish in the short term, but cautions that volume remains weak and RSI is putting in lower highs, suggesting the move may lack strength for a sustained breakout. Darkfost explains that Bitcoin is still in a corrective phase, with price trading below the 200-day EMA near $82K, expecting a move toward $87K driven by short positioning. However, the $80K level represents a major resistance wall with a large cluster of leveraged short positions sitting at this level. Over $250 million in short positions were liquidated in the last 24 hours, including $150 million in a single hour, showing that a short squeeze is already underway. A clean daily close above $80K could trigger a rapid move toward the $84K–$88K range, while failure to break this level could lead to a sharp downside move, with analysts warning of a potential drop toward $66K.

In a worst-case scenario, as reported by CoinDesk, Bitcoin could fall to the low $50,000 range before staging a strong rebound to reach the $250,000 target. However, the current break above $80K demonstrates that market conditions are more favorable than previously anticipated. The veteran trader emphasized that he would revise his view if market action diverges from the pattern, underscoring the need for flexibility in cryptocurrency market forecasting. This approach reflects Brandt's pragmatic methodology, where historical patterns serve as guides rather than definitive predictions, allowing for adaptability when market conditions change unexpectedly. The current technical setup suggests that Bitcoin's trajectory will largely depend on whether the break above $80K represents a sustainable trend or a temporary overshoot.