U.Today – (BTC), the largest cryptocurrency by market capitalization, plunged over the weekend to a low of $60,822, but has recovered somewhat to around $64,438 at the time of writing.
The immediate cause of the market crash was not clear. However, there is also speculation that lower liquidity may have led to lower pricing.
Following the market crash, veteran trader Peter Brandt opined that Bitcoin's “end run” has been completed. Brandt posted a daily chart and highlighted BTC’s recent price decline as an “end run.”
The term “end run” often refers to evasive tricks and maneuvers that bypass defenses. “End run” is commonly used in soccer to describe a ball carrier's attempt to run wide around the end of the line.
In the context of Bitcoin, this could imply that the market has avoided the difficult situation caused by the near $60,000 price crash. An “end run” comment can also imply the completion of a particular pattern of Bitcoin price movements.
Brandt highlighted a pattern in his BTC chart that appeared to resemble a symmetrical triangle pattern, which he said could provide further clues.
A symmetrical triangle chart pattern indicates a period of consolidation before price is forced to breakout or fall. A breakout from the lower trend line indicates the start of a new bearish trend, while a breakout from the upper trend line indicates the start of a new bullish trend.
In the chart, Brandt refers to the breakdown from this pattern as an “end run.”
Brandt earlier predicted that Bitcoin's bull run would peak at $200,000 by August or September 2025, revising his original forecast of $120,000.
Brandt's recent comments may suggest that the recent price decline is a healthy correction within a larger positive trend. This could also indicate a sense of completion and readiness for the next phase of Bitcoin's price movement.
But without further details, Brandt's statement that “end run is complete” leaves room for interpretation.
This article was originally published on U.Today
