Crypto legend's banana chart flashes warning as Bitcoin hits $123,000 — is a big crash coming?
It the entire price history of Bitcoin was a fruit, what fruit would you say it was? pic.twitter.com/FPEU1bUvnf — Peter Brandt (@PeterLBrandt) July 13, 2025
ALSO READ: Iceland volcano eruption: It's not the lava going viral, but the breathtaking photos — see them hereBut beneath the joke is a keen warning, as that curving banana is not just a fun picture; it represents the parabolic price rallies Bitcoin has experienced throughout its existence, as reported by The Street. Every single one of its significant surges, Brandt points out, has resulted in a sudden and painful price reversal, according to the report. The cryptocurrency's current price, which is at $123,000, lies exactly at what Brandt refers to as the "upper rim" of this upward channel, a technical roof where history indicates Bitcoin has historically experienced big pullbacks, as per The Street report.
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Bitcoin's recent run, witnessed last week, shows that the cryptocurrency went from around $108,000 to more than $123,000, driven by huge institutional inflows, according to the report. QCP Capital has said that spot BTC ETFs had more than $2 billion in flows last week alone, while leveraged longs are crowding into the market, as per The Street report. Open interest is now more than $43 billion, and funding rates on perpetuals are increasing, classic signals of a frothy setup, as reported by The Street.
Investor sentiment follows suit, the Crypto Fear & Greed Index recently surged from 40 (neutral) to 70 (greed), indicating that many are swept up in a bull frenzy, according to the report. Options markets, on the other hand, occasionally give early warning and are currently subdued, though a history of otherwise being silent until just before a fall, as per The Street report.The Street wrote in its report, "So when a trader with Brandt's record posts a chart that looks like a ripe banana ready to split, maybe we should take a step back."In technical charting, a banana curve is one means of showing a parabolic price movement, as per the report. It is a sign of a sudden surge in price as buyers swarm in, usually under the influence of FOMO, or fear of missing out on huge profits, according to The Street. Such curves may be thrilling, but they are brittle as the steeper the ride, the more susceptible the price is to a devastating and painful reversal, as per the report.Brandt has a record that few can top: he predicted the 2017 Bitcoin top months ahead of time and signalled the 2021 breakdown more than a year ahead of time, according to The Street report. His banana-shaped chart, presented with a grin, is a warning that the present rally might be near a tipping point, as per the report. Who is Peter Brandt?A veteran trader known for predicting key Bitcoin market tops and breakdowns.
What does the banana chart represent? It visually represents Bitcoin's parabolic rallies, each followed by steep corrections.
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