Veteran trader Peter Brandt suggests that the recent drop in Bitcoin prices might not signal a lasting reversal, but rather a short-lived rebound known as a ‘dead cat bounce.’ This follows Bitcoin’s two-week decline from over $120,000 to roughly $80,000. Brandt’s analysis highlights a key price zone between $88,000 and $92,000, which he believes holds crucial information about the market’s future direction. He points out that Bitcoin’s current action seems more reactive than proactive, lacking substantial demand or new buying interest. This perception is supported by thinning liquidity in major markets with wider bid-ask spreads, signifying a lack of sustained engagement from investors. Additionally, recent ETF flows have shown mixed results, particularly BlackRock’s IBIT ETF, which saw outflows signaling skepticism about the market’s current outlook.