Bitcoin Chart Mirrors 1970s Soybean Bubble

Veteran market trader Peter Brandt has sparked new discussions across the crypto world by warning that bitcoin’s current price chart looks strikingly similar to the historical price pattern of soybeans from the 1970s. During that decade, the soybean market experienced one of the most dramatic bubbles in modern history — prices soared rapidly and then collapsed by nearly 50% once global supply outpaced demand. Brandt now believes that bitcoin could be following a comparable path.

According to Brandt, bitcoin appears to be forming a “broadening top” pattern — a chart formation that often signals a peak before a major price decline. He explained that soybeans in the 1970s formed an identical structure before losing half their value. The veteran trader warned that if history repeats itself, bitcoin could face significant downward pressure, potentially falling to levels that might shock even long-term believers in bitcoin.

Currently, bitcoin is down roughly 5% over the past month, and the trend has caused anxiety among corporate investors such as Michael Saylor’s company, which holds large bitcoin reserves. The falling net asset value of corporate bitcoin treasuries has put additional strain on their stock performance, deepening the concern that the expected “final thrust” in bitcoin might never materialize. Brandt even suggested that instead of skyrocketing, bitcoin could sink as low as $60,000 before recovering.

Despite Brandt’s caution, not everyone shares his bearish view. Some analysts remain confident that the bitcoin cycle still has at least one strong rally left. Prominent industry figures, including BitMEX co-founder Arthur Hayes, suggest that bitcoin could still surge toward $250,000 before the end of its current market cycle. Historically, the fourth quarter of the year has been bitcoin’s strongest period, with an average return close to 78%. October, in particular, has often been a month of recovery and optimism for bitcoin.

However, investor sentiment has recently shifted to a more fearful tone. Following new trade-tariff concerns raised by U.S. President Donald Trump, global markets turned volatile, and crypto assets, including bitcoin, reacted with short-term weakness. The well-known Crypto Fear & Greed Index now shows “Extreme Fear” with a reading of 25, despite October’s usual bullish reputation.

Traders such as AlphaBTC commented that bitcoin must now hold its higher-low support levels to prevent further declines and to attempt another move toward the monthly open, where prices were recently rejected. Still, not all voices are pessimistic. David Hernandez, a crypto investment strategist from 21Shares, said that if U.S. inflation data — particularly the Consumer Price Index — shows signs of easing, bitcoin might rapidly rebound. In his words, “Bitcoin is coiled and ready to spring upward.”

At the same time, market analyst Michaël van de Poppe highlighted that gold’s recent 5.5% decline from its highs could signal an ongoing rotation of capital into bitcoin and altcoins. Many traders see this shift as a sign that bitcoin may soon regain its dominance as traditional safe-haven assets lose momentum.

Ultimately, the debate reflects a split market: one side warns of a historic correction echoing the soybean crash, while the other sees opportunity for bitcoin to rise even higher. Whether bitcoin repeats the past or writes a new chapter remains uncertain — but one thing is clear: bitcoin continues to captivate analysts, traders, and investors across the globe.