A worried trader look at price charts
Extreme Crypto Turmoil Points to Bottom, Veteran Suggests
In Brief
- • Bitcoin’s sharp drop below a key price level has fueled widespread fear.
- • Veteran trader Peter Brandt says such extreme fear often precedes market recoveries.
- • Other analysts say the correction could mean the confirmation of a full bear market.
Bitcoin today crashed below $90,000 for the first time in 7 months, creating more panic. Veteran trader Peter Brandt says this level of turmoil usually suggests the bottom is close, and a trend reversal could be on the horizon.
Ad
Brandt in an X post stated that it is at the point when even the most diehard holders give up that the market starts to recover, judging from his over sixty years of trading.
Altcoins have had a worse experience as the price of bitcoin continues to dip, leading investors to give up on the market.
“Worshiping at the Porcelain altar”
The expression “worshipping at the porcelain altar” is a colloquial way of describing a person kneeling at a toilet seat and vomiting.
Ad
In trading as used by Brandt, it is used to describe a situation where a trader experiences so much anxiety, distress, or panic due to severe market losses or volatility that they get physically ill.
The veteran seems to suggest that the current market is approaching this level of pain, in which case a bottom and potential trend reversal could be close.
This major crash in bitcoin’s price follows a discouraging weekly close which made several crypto analysts conclude that a bear market is in full swing.
Local Bottom or Start of Bear Market?
Bitcoin entered a death cross recently, coinciding with the drastic Bitcoin drop. According to another analyst, this could mean the bottom is in, or that a bear market has been confirmed.
If it turns out as Brandt suggests, a reversal may be around, promising a relief. However if the death cross is confirming a bear market, a lot more pain may be on the way before a lasting reversal kicks in.
More Must-Reads:
How do you rate this article?
Subscribe to our YouTube channel for crypto market insights and educational videos.
Join our Socials
Briefly, clearly and without noise – get the most important crypto news and market insights first.
Most Read Today
1
Samsung crushes Apple with over 700 million more smartphones shipped in a decade
2Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008
3Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims
4XRP Whales Buy The Dip While Price Goes Nowhere
5Luxury Meets Hash Power: This $40K Watch Actually Mines Bitcoin
Latest
Most Read Today
MOST ENGAGING
8
Also read
Similar stories you might like.
Bitcoin
Bitcoin Slides Alongside Gold and Silver as Pressure Hits Markets
Patrick | 2026-01-29
Bitcoin
Why Bitcoin Looks Weak Today But Strong Long-Term
Ana | 2026-01-29
Altcoins
Tom Lee’s Bitmine Deepens Massive Ethereum Staking Bet to $7.6B
Ana | 2026-01-29
Altcoins
Dogecoin Bulls vs. Bears? One Key Line Decides Everything
Ana | 2026-01-29
Altcoins
XRP Whales Buy The Dip While Price Goes Nowhere
Ana | 2026-01-29
Altcoins
Russia Finalizes Rules for Bitcoin, Ethereum, and Stablecoins
Ana | 2026-01-29
Altcoins
Crypto Mirrors 2020 as a 2021-Style Rally Looms
Ana | 2026-01-28
Bitcoin
Bitcoin’s Four-Year Cycle Is “Dead,” Claims the World’s Smartest Man
Ana | 2026-01-28
Altcoins
Grayscale Tweaks XRP Trust Filing as Spot ETF Momentum Heats Up
Ana | 2026-01-29
Bitcoin
Dorsey’s Offline Chat and Bitcoin App Surges Amid Iran, Uganda Shutdowns
Ana | 2026-01-29