- Peter Brandt foresaw Bitcoin mirroring 2018’s infamous Hump-Slump-Pump-Dump crash pattern.
- Market sentiment shifted as Bitcoin struggled to hold critical levels amidst macroeconomic pressures.
Bitcoin [BTC] has recently dipped below $94,000, raising fears of a potential crypto crash. The leading digital asset continues to struggle with sideways movement, unable to regain the critical $100,000 support level.
Amidst this, veteran trader Peter Brandt has pointed out a striking similarity between Bitcoin’s current price action and its behavior in 2018, fueling speculation that history could be repeating itself.
As the community watches closely, all eyes are on what’s next for Bitcoin and whether it can overcome this period of uncertainty.
Is Bitcoin’s fall the precursor to a crypto crash?
Bitcoin’s decline below $94,000 marked a pivotal point, especially as its attempts to reclaim $100,000 falter amidst macroeconomic headwinds.
Analysts highlighted that the RSI dipping below 43 suggested waning buying momentum. Furthermore, OBV showed decreasing capital inflow.
Interestingly, historical data shows a striking resemblance to 2018’s bear market, where a critical support break triggered prolonged downturns.
Source: TradingView
Moreover, December’s decreasing volume and heightened institutional sell-offs compound fears of cascading liquidations.
With U.S. regulatory updates intensifying uncertainty and the Federal Reserve signaling sustained high interest rates, Bitcoin’s trajectory hinges on reclaiming its psychological thresholds.
A failure to stabilize here could ignite sector-wide repercussions, potentially mirroring the 2018 crash dynamics.
Analysts say Bitcoin is trapped in a déjà vu of the 2018 crash
Source: X
Meanwhile, Brandt has reignited fears of a potential Bitcoin collapse, drawing parallels to a notorious 2018 pattern that preceded the end of a parabolic advance. In his latest X post, he stated,
“If you are a Bitcoiner, take a look at this post from several years ago. It describes the famous Hump-Slump-Pump-Dump chart construction in $BTC. Same thing could be happening now.”
Dubbed the “Hump-Slump-Pump-Dump” cycle—a derivative of his original “Bump-Lump-Hump-Dump” model, Brandt highlighted that Bitcoin’s current price action bore an uncanny resemblance.
Notably, Ki Young Ju — Founder and CEO of Cryptoquant, was also in agreement.
Fear and Greed Index and key Bitcoin price levels
Source: Glassnode
Importantly, the Fear and Greed Index’s transition from extreme greed to a lower greed zone also signaled a pivotal sentiment shift.
Historically, extreme greed often precedes sharp corrections, but the moderation seen now could provide Bitcoin an opportunity for stabilization.
In addition, current levels indicated a delicate balance. Thus, holding above $90,000 would be critical to prevent cascading sell-offs and further erosion in sentiment.
A drop below this threshold could push BTC towards the $88,000 support, a level of prior consolidation that traders are watching closely.
Read Bitcoin’s [BTC] Price Prediction 2025-26
Conversely, if the sentiment improves, breaking $96,500 could reignite bullish momentum.
This level aligns with short-term recovery trends on the RSI and OBV metrics, signaling the potential for renewed capital inflows. Maintaining this balance is crucial as macro factors continue to exert pressure.
