Peter Brandt says Bitcoin a ‘hop, skip and jump’ from $42k

Bitcoin long-term price action and ‘banana peel’ support zone | Source: Peter Brandt

Brandts “banana peel” metaphor refers to the slippery downside zone, where price can slide quickly but has historically struggled to sustain deep breaks below it.

In the current cycle, that lower boundary sits near the $42,000 level, implying Bitcoin may be nearing a historically significant area of support.

Brandt flags Bitcoin ‘campaign selling’ in prior warning

Brandt‘s latest post follows a separate tweet from the previous day, in which he said Bitcoin’s recent price action appeared to reflect “campaign selling” rather than retail-driven capitulation.

In that earlier post, Brandt pointed to a multi-day pattern of lower highs and lower lows, suggesting that large, coordinated sellers may be driving the decline. He added that similar patterns have appeared in past market cycles, though timing a bottom remains uncertain.

Hey crypto followers $BTC

The nature of the decline in Bitcoin (now 8 days of lower lows and highs) has all the finger prints of campaign selling, not retail liquidation

Seen this before hundreds of times over the decades

Never know when of course this pattern ends

Note to trolls… pic.twitter.com/THGJpez35F

— Peter Brandt (@PeterLBrandt) February 5, 2026

Together, the two tweets frame a cautious outlook: further downside may be possible, but historical behavior could limit how far prices fall.

The comments come as Bitcoin continues to slide alongside a broader crypto market downturn, with prices under pressure across major digital assets. Major altcoins have followed Bitcoin lower, amplifying losses across the sector.