Veteran trader Peter Brandt revealed he has taken a short position on Bitcoin futures, even as he continues to hold Bitcoin long-term as part of his investment portfolio.
Brandt, who has traded markets for over four decades, explained that the move reflects a difference in timeframes:
“As an investor I have owned Bitcoin for years. As a swing trader, I am now short BTC futures based on a megaphone pattern.”
His chart illustrates a broadening formation, with five clear wave structures, often associated with heightened volatilityand potential breakdowns when price fails to hold support. Bitcoin’s latest pullback from $126,000 to around $107,000 has placed it in a critical technical zone, where failure to defend could open the door to deeper retracement toward the mid-$90K range.
Analyst Michaël van de Poppe offered a contrasting view, maintaining that Bitcoin’s bullish structure remains intact, provided the price reclaims the $112,000 resistance level.
“The thesis on Bitcoin remains the same,” van de Poppe wrote. “It needs to break the $112K level, and then we’re good to go. Break that level and we’re going into happy land.”
Van de Poppe acknowledged Bitcoin’s recent bounce but emphasized the lack of strength across altcoins, which continue to lag behind BTC. His chart shows consolidation between $102K and $112K, with a potential breakout above resistance setting up the next leg toward new highs.
In a separate post, van de Poppe shifted focus to the Ethereum ecosystem, calling it the “best ecosystem to invest in” as ETH approaches a possible breakout above $5,000.
He identified Arbitrum (ARB) as a key opportunity within that ecosystem, noting that the token is at a cycle low while forming bullish divergences against Bitcoin.
“The bear market is almost over,” he said. “This is one to have in your portfolio, in my opinion.”
Van de Poppe’s analysis suggests that Ethereum’s Layer-2 and scaling projects could lead the next wave of altcoin growth, echoing historical patterns where ETH breakouts have preceded broader market rallies.
The contrasting views from two respected traders underscore the uncertainty surrounding Bitcoin’s next move.
Both agree that Bitcoin’s next decisive move around $112,000 will likely determine the market’s tone heading into the final quarter of 2025, whether it confirms continuation toward new highs or triggers a deeper correction before the next rally.
