Peter Brandt Says Bitcoin May Have Moved Beyond Its Historic Parabolic Bull Cycles

On 15 December 2025, veteran trader Peter Brandt argued that Bitcoin's long-observed parabolic cycle structure may no longer hold as the market matures. He pointed to slower, less sustainable rallies, earlier exhaustion near record highs, and the possibility of a much deeper pullback than many investors expect. In his view, Bitcoin now behaves more like a conventional global asset, with compressed returns and greater uncertainty around halving-driven booms.