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Benzinga
Benzinga
Business
Murtuza J Merchant

Bitcoin Must Reclaim $117,570 To Avoid Double Top Risk, Veteran Trader Says

Bitcoin Peter Brandt United States
Orman Advises 5% Bitcoin

A recent large sell order in the Bitcoin (CRYPTO: BTC) market has raised concerns among traders, with veteran analyst Peter Brandt highlighting its significance as a supply-driven event that could signal a market top.

What Happened: Brandt noted on X that Bitcoin needs to exceed $117,570 to negate the formation of a seven-week double top pattern, a technical structure often associated with bearish reversals.

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