As Bitcoin retreated to the level of $62,400 today, investors are also wondering whether the declines will continue.

According to experienced analyst Peter Brandt, Bitcoin is in a healthy correction. Brandt stated that Bitcoin could retreat to $58,000 in the short term, but in the long term, it is in a major bull trend.

Brandt previously wrote that he thought Bitcoin could go up to $200,000. The analyst also gave time for this and noted that this level could be seen in August / September 2025.

It is thought that the upcoming interest rate decisions of central banks, especially the Fed, are effective in the decline in Bitcoin. It is observed that investors choose to avoid risk against short-term macro uncertainty. This brings sales pressure on risky assets such as Bitcoin and stocks. On the other hand, outflows in Bitcoin ETFs also increased selling pressure. Yesterday, there was an outflow of $642 million from Grayscale’s ETF. This amount was recorded as the largest daily outflow ever for the Grayscale ETF.

Bitcoin is trading at $ 62,160 at the time of writing.