u.today
Peter Brandt believes Bitcoin is not "out of the woods" because he views the current market structure as a long-term bear market.
He believes that this structure cannot be invalidated by a few days of positive price action.
As reported by U.Today, Bitcoin pulled off a stunning comeback on Tuesday, surging above the $92,000 level and paring its most recent gains.
🔥 Bitcoin just pulled off a real-life V for Vendetta move — a perfect V-shaped recovery.
— InvestAnswers (@Investanswers) December 2, 2025
📈 $91K ➜ $91K in just 48 hours.⚡️🟧 pic.twitter.com/L1gjaOhVl5
However, according to Brandt, this could be just market noise despite some bullish developments (such as Vanguard's decision to open access to cryptocurrency exchange-traded funds).
Dead cat bounce?
In November, the price of the flagship cryptocurrency collapsed to the $80,000 level following a violent sell-off.
Bitcoin then managed to recover, but it was violently rejected at the $93,000 level. Brandt subsequently described the earlier move as a "dead cat bounce."
Hence, there is still a possibility that this is yet another bear market rally that will eventually fade.
So far, Bitcoin (BTC) is still down 27.6% from its record peak of $126,080 that was achieved in early October.