
Pi Network’s PI Token Jumps Again as Bitcoin (BTC) Stalls Below $77K: Market Watch
Pi Network's PI Token Surges While Bitcoin Stalls Below $77K

Peter Brandt warns that Bitcoin reaching $250,000 by 2026 is unlikely, citing a technical analysis of its current price channel. He emphasizes that the current ascending channel does not indicate a bullish bottoming pattern.
Veteran commodity trader and classical chartist Peter Brandt has urged Bitcoin uber-bulls to "stop with the mushrooms." The controversial chartist has come up with a rather sobering technical reality check for the flagship cryptocurrency. For now, $250,000 is out of reach for bulls.
Bitcoiners Those of you predicting $250,000 in 2026 need to stop with the mushrooms This is called a channel $BTC While it does not preclude further price gains, it is NOT a bullish bottoming pattern The Factor Report reports on classical chart analysis pic.twitter.com/ApMM46KFla
— The Factor Report (@PeterLBrandt) April 27, 2026
Brandt took note of a clearly defined ascending parallel channel that had formed over the past several weeks. "This is called a channel," Brandt explained to his followers. "While it does not preclude further price gains, it is NOT a bullish bottoming pattern." Bottoming patterns, such as double bottoms, inverse head-and-shoulders, or rounding bottoms, typically indicate a powerful transition to a new bull market phase. An ascending channel, on the other hand, often represents a slow, controlled grind higher that can sometimes act as a corrective bear flag before further downside.
After suffering a steep sell-off in late January that saw the asset wick down to the $60,000 support zone by early February 2026, Bitcoin has spent the entire spring staging a choppy recovery. Currently trading in the $76,000 to $78,000 range, Bitcoin remains neatly confined within the rising channel Brandt spotlighted. The short-term momentum is technically upward, but the price action is constrained. For a true parabolic run to begin, Bitcoin would need to break out of this channel's upper boundary with massive volume. Until that happens, traders have to remain grounded in the technical realities of the chart.
Peter Brandt believes Bitcoin won't reach $250,000 by 2026 due to its current price action being confined within an ascending channel, which he argues is not indicative of a bullish bottoming pattern.
As of April 2026, Bitcoin is trading in the range of $76,000 to $78,000.
An ascending channel in Bitcoin's price action indicates a slow, controlled grind higher, which can sometimes act as a corrective bear flag before potential further downside.

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