Prominent trader Peter Brandt has expressed skepticism about Bitcoin reaching a new all-time high in 2026, suggesting it may not occur until the second quarter of 2027. Brandt anticipates a potential retest of the $60,000 level in Q3 or Q4 of this year, which he believes could mark the bottom of the current bear market cycle. On the prediction market Polymarket, the probability of Bitcoin hitting $120,000 in 2026 is estimated at just 15%. Meanwhile, Bitcoin analyst Willy Woo and SkyBridge's Anthony Scaramucci have both noted that Bitcoin remains in a bear phase, with the Crypto Fear & Greed Index indicating "extreme fear." Spot Bitcoin ETFs recently recorded a net outflow of $296.18 million, ending a streak of net inflows.