Veteran trader Peter Brandt has offered a compelling bullish assessment for Bitcoin, XRP, Ethereum, and Stellar (XLM), providing a much-needed optimistic outlook after a tumultuous week that saw over $16 billion in derivatives liquidations across the cryptocurrency market. Despite the recent "bloodbath" and significant price pullbacks, Brandt asserts that the underlying bullish structures for these major digital assets remain fundamentally intact, suggesting the broader uptrend is far from over.
Market Resilience Amidst Turmoil
The cryptocurrency market recently endured one of its most challenging periods in years, triggered in part by U.S. tariffs on Chinese exports, which saw Bitcoin briefly dip to $100,600 before recovering above $111,000. This volatility led to widespread liquidations and uncertainty among traders. However, Brandt, a highly respected figure in the trading community, views this setback as a minor correction within a larger bullish framework. For Bitcoin, which closed the week at $112,011, his verdict is unequivocally "bull still alive and well," highlighting the critical support zone between $109,000 and $110,000 as a key indicator of continued strength.
Bullish Outlook for Altcoins
Brandt's optimism extends beyond Bitcoin to several key altcoins, each receiving a positive outlook. XRP, currently trading around $2.46, is seen by Brandt as experiencing merely "a minor reaction" in its larger bullish narrative, with the breakout from last year's wedge still valid and potential targets set between $3.00-$3.50. Stellar (XLM) at $0.33 is described as "a bull waking from a nap," with the $0.60 resistance wall poised to unlock a significantly larger move if breached. Ethereum (ETH), priced at $3,813, is deemed "ready to rock and roll," with a break above its $4,700-$4,800 resistance levels expected to clear a long period of consolidation that has capped its growth since 2021. This consistent bullish sentiment across multiple assets reinforces Brandt's conviction that, despite recent shocks, the foundational momentum of the crypto market remains upward.
