Veteran trader Peter Brandt believes that risk assets such as the S&P 500, Bitcoin (BTC) and Ethereum (ETH) will see much lower levels by the end of the year.
Starting with the US stock market, Brandt tells his 792,500 followers on the social media platform X that the S&P 500 looks bearish after breaching support at 5,800 and retesting the level as resistance.
Brandt predicts that the S&P 500 will close the year slightly below 4,500 points.
“The Red Dots are where I think we end the year in 2025.”
Source: Peter Brandt/X
As of Friday’s close, the S&P 500 is trading at 5,282.
Looking at Bitcoin, Brandt sees BTC dropping to around the $50,000 price zone after violating a parabola that has kept Bitcoin
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