Trader: BTC has peaked, could fall to $60K

U.S. crypto trader Peter Brandt has argued that Bitcoin has reached a market top, drawing parallels to the 1970s soybean market, Cointelegraph reports. Brandt explained that BTC is forming a rare broadening top pattern, a formation typically seen at market peaks. He pointed to the historical precedent of the soybean market in the 1970s, which saw a similar pattern before a decline of approximately 50%. Brandt added that, contrary to market expectations, a large-scale bull market may not materialize at all this cycle. Instead, he suggested Bitcoin could see a correction down to $60,000.