Cryptocurrency markets consolidated on Wednesday as traders remained cautious, with Bitcoin falling below $113,000. At the time of writing, Bitcoin was trading at $112,913, hitting an intraday low of $112,075, extending its decline from Monday's high of $116,410 into its third day.
Important triggers from a macro perspective this week include the Federal Reserve's interest rate decision expected later today.
The world's largest cryptocurrency continued to rise by 3.92% over the past week, but fell by 1.45% in the past 24 hours, reflecting a modest decline across major cryptocurrencies.
The Fed is widely expected to cut rates by a quarter of a point at the end of Wednesday's meeting, but it is less certain whether Chairman Jerome Powell will strike a dovish tone in his post-meeting comments. Investors are hoping the central bank will cut rates further at its December meeting.
Peter Brandt highlights Bitcoin price potential
In a tweet indirectly addressed to Bitcoin holders, the veteran trader highlighted the potential for the Bitcoin price and asked holders to consider the AIRR chart pattern (likely a triangle pattern).
That's a nice chart. I accept this as a possibility https://t.co/PGQYxJArBx
— Peter Brandt (@PeterLBrandt) October 29, 2025
Mr. Brandt asked them to state whether and when this pattern is confirmed or rejected. “Those who are bullish on certain cryptocurrencies starting with the letter ‘B’ are strongly advised to understand whether and when this pattern is confirmed or disconfirmed.”
User X responded, praising his analysis and adding that if the pattern is rejected, Bitcoin could be poised to enter a massive bull market as it could create a bullish megaphone pattern and push BTC prices higher.
Brandt agreed, saying, “It's a great chart. I'm open to it as a possibility.” Brandt then shared another chart, this time of Dow futures, which he used to confirm agreement about the possibility. “Here's another example. I agree with your graph as a possibility,” Brandt wrote.
Brandt noted in early October that Bitcoin was forming a pattern similar to the 1977 soybean top expansion, which led to a 50% drop in value.
