The price fluctuations of Bitcoin have been notably volatile recently due to the influence of US Consumer Price Index (CPI) and Producer Price Index (PPI) figures, as well as the Federal Reserve's interest rate pronouncement. Following positive results, Bitcoin surged to approximately $70,000 only to retract to $67,000 following the Federal Reserve's decision.

Amidst speculations about a potential prolonged decline, reputable analyst Peter Brandt has issued a disconcerting prediction. Brandt, who accurately foretold Bitcoin's plunge to $16,000 in 2022, has now indicated that a drop below $65,000 could initiate a sustained downturn, possibly resulting in further declines to $60,000 or even $48,000.

However, surpassing the $65,000 threshold does not guarantee stability as Bitcoin may still slide to $60,000. Brandt also mentioned the likelihood of a price surge in the midst of the prevailing bearish market sentiment. He advised Bitcoin stakeholders to closely follow the weekly closing figures, underscoring the importance of the $66,000 level. According to Brandt's analysis, falling below $66,000 and subsequently dipping under $65,000 could push Bitcoin towards $60,000.

Despite the warnings, Brandt suggested the potential for Bitcoin to rebound from the $60,000 level. Currently, Bitcoin is trading at $67,043.