Bitcoin investors may have witnessed the cryptocurrency’s final record-breaking rally, at least according to veteran trader Peter Brandt. The legendary chartist has sounded the alarm over a potentially massive bearish pattern emerging on Bitcoin’s weekly chart, warning that if the formation holds, the apex crypto’s October 2025 all-time high above $126,000 may never be surpassed in his lifetime. His alarming assessment comes as BTC reels from a brutal market downturn, adding fresh uncertainty to an already battered crypto market.
Peter Brandt Flags Potential H&S Pattern That Could Spell Trouble for BTC
Peter Brandt has raised the possibility that Bitcoin may have already reached its ultimate price peak after spotting a potentially significant bearish formation on its weekly chart. In a November 15 post on X, the renowned chartist questioned whether BTC was developing a legitimate head-and-shoulders (H&S) top, a technical pattern often associated with a major trend reversal.
Brandt suggested that if the formation proves valid, he could construct a technical case that Bitcoin’s previous record high was its last, potentially remaining unbeaten for the rest of his lifetime. His warning is particularly striking given that Bitcoin reached a record of $126,080 in October 2025 before suffering a sharp correction.
The H&S formation typically features three peaks, with the middle one (the head) rising above the two surrounding peaks (the shoulders). The pattern is considered bearish when the price breaks below the neckline, which connects the two troughs separating these peaks. Such a breakdown could signal weakening buying pressure and open the door to further losses. In Bitcoin’s case, the asset is approaching a crucial support zone between $60,000 and $65,000, which could serve as the neckline of the potential bearish formation.
However, Brandt has not confirmed that Bitcoin has completed this formation. His assessment remains conditional on whether the chart structure represents a legitimate bearish reversal, meaning traders will likely watch the potential neckline for signs of confirmation.
Bitcoin Faces Fourth Capitulation Wave
Bitcoin has extended its recent decline, with selling pressure intensifying on Nov. 13 as the flagship cryptocurrency dropped below the psychologically significant $70,000 threshold for the first time since August. The latest downturn has deepened its weekly losses to approximately 14.8%, highlighting the growing bearish sentiment weighing on the broader crypto market.
Meanwhile, crypto analyst James Check has pointed to another worrying development, suggesting Bitcoin is experiencing its fourth capitulation event since reaching its all-time high. According to Check, daily realized losses have surged, doubling from about $420 million to more than $850 million in just 24 hours.
Check also offered a more optimistic perspective, arguing that Bitcoin has entered what he describes as a “deep value” zone. He noted that the cryptocurrency last traded in similar territory in February and late June this year, with the previous comparable occurrence dating back to the 2022 crypto bear market.
However, the pundit cautioned that entering this zone does not necessarily mean Bitcoin has reached its market bottom. Instead, he suggested that investors who begin gradually accumulating BTC at these levels could eventually benefit if historical patterns repeat, potentially turning the current market weakness into a long-term buying opportunity.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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