Veteran trader Peter Brandt and other analysts question the $250,000 Bitcoin target, warning the current bear phase may not be over.
Bitcoin (BTC) is trading roughly 40% below its October 2025 record high near $126,000 despite its ongoing recovery.
Still, some of the cryptocurrency's loudest bulls, including billionaire investor Tim Draper and Fundstrat’s co-founder Tom Lee, have not backed down from their $250,000 year-end prediction, a target that would require more than a threefold rally from current levels.
Is that realistic, or is Bitcoin’s latest drawdown a warning that the cycle has already peaked?
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