Peter Brandt targets $250K BTC — but says a deeper bottom comes first.

Veteran trader Peter Brandt is calling for Bitcoin to reach $250,000, with one important caveat: the market needs to carve out a meaningful bottom later this year before that move can unfold. Brandt's track record in classical charting gives his cycle calls weight in the analyst community.

The forecast implies a two-phase setup — a capitulation or consolidation low sometime in 2024/2025, followed by a strong impulse leg into the quarter-million target. That sequencing aligns with how prior <a class="ticker-mention" href="/en-US/token/btc">BTC</a> halving cycles have played out: a mid-cycle reset before the parabolic phase.

For traders, the read is patience over aggression. A confirmed bottom would be the signal, not the current price level.