Peter Brandt believes that Bitcoin is not “out of the woods” as he views the current market structure as a long-term bear market.
He believes this structure will not be invalidated by a few days of positive price action.
As reported by U.Today, Bitcoin made a spectacular comeback on Tuesday, surging past the $92,000 level and breaking its recent gains.
🔥 Bitcoin just pulled off a real-life “V for Vendetta” movement. In other words, a perfect V-shaped recovery.
📈 $91,000 ➜ $91,000 in just 48 hours ⚡️🟧 pic.twitter.com/L1gjaOhVl5
— InvestAnswers (@Investanswers) December 2, 2025
But despite some bullish developments (such as Vanguard's decision to open up access to crypto exchange-traded funds), this could just be market noise, according to Brandt.
Dead cat jumping?
In November, the price of the main cryptocurrency suffered a sharp decline, plummeting to the $80,000 level.
Bitcoin then managed to recover, but was severely rejected at the $93,000 level. Brandt later described the earlier move as a “dead cat bounce.”
Therefore, there is still a chance that this could turn into another bear market rally that eventually subsides.
So far, Bitcoin (BTC) is still down 27.6% from its all-time high of $126,080 in early October.
