[Peter Brandt: Bitcoin May Bottom at $40,000, Nasdaq Index Shows Possible Top Formation] BlockBeats News, July 17 – Renowned trader and chart analyst Peter Brandt stated today that the daily chart of Nasdaq 100 E-mini futures (NQ) might be forming a 'diamond' pattern, potentially indicating a market top. Additionally, in a recent interview, Peter Brandt predicted that Bitcoin might first rebound by $10,000 before dropping to the $40,000 range and forming a bottom in early October 2026. Brandt issued a warning based on Bitcoin's historical cycle patterns, suggesting that Bitcoin could experience a false breakout. Currently, Bitcoin's price is fluctuating around $60,000, facing short-term downside risks. However, Brandt emphasized his long-term bullish outlook on Bitcoin, forecasting that its price could reach $300,000 to $500,000 by 2029. [Original Link]