Key Insights:
- Bitcoin’s price is projected to reach $250,000 by 2029.
- Bitcoin ETFs in the US recorded five weeks of outflows totalling $3.8B amid risk-off positioning.
- Weekly withdrawals from the Ether ETF also totalled $ 123.4 million, despite select daily inflows.
Bitcoin price projections returned to the spotlight this weekend after veteran chart analyst Peter Brandt outlined a long-term scenario that would place the cryptocurrency at $250,000 by 2029.
The comments followed a social media exchange with NBA Hall of Famer Scottie Pippen, who compared market structure patterns between 2020 and 2026. Brandt responded by pointing to what he calls Bitcoin’s “banana,” a multi-year curved growth channel that has defined price cycles for more than a decade.
Bitcoin Price and the “Banana” Growth Channel
The banana referred to by Brandt is a long-term logarithmic growth path observed in Bitcoin’s price movement since 2012. As per his model, the asset has fluctuated between the lower green mark of deep cyclical retracements and the upper red band of speculative peaks.
Moreover, Historical patterns cited by Brandt show similar behaviour during prior bull-market cycles in 2013, 2017, and 2021. In each instance, Bitcoin advanced toward the upper boundary of the channel before correcting back toward the lower range.
Futures market trader since 1975, Source: Peter Brant
His $250,000 projection assumes that this structure remains intact through the next halving cycle and into the latter part of the decade. Currently, the Bitcoin price is trading in the high-$60,000 range after reaching a peak near $92,000 in January 2026.
At present levels, the asset sits roughly in the middle of the long-term channel, away from the historical extremes that previously marked cycle tops or bottoms.
ETF Outflows Add Pressure to Bitcoin Price Trends
While long-term technical projections draw attention, fund flow data shows recent caution among institutional investors. United States spot Bitcoin ETFs have recorded five consecutive weeks of net outflows, totalling approximately $3.8 billion.
In the most recent week, the products posted net outflows of around $315.9 million, according to SoSoValue data.
Source: Sosovalue
The largest weekly withdrawal within the five-week sequence occurred in the week ending January 30, when outflows reached about $1.49 billion. Although some trading sessions registered inflows, they were insufficient to offset larger redemption days.
Despite the recent streak of withdrawals, cumulative figures since launch remain positive. As of Friday, spot Bitcoin ETFs have accumulated roughly $54.01 billion in net inflows. In addition, the Total net assets were $85.31 billion, which is about 6.3% of Bitcoin’s total market capitalisation.
Market Conditions and Institutional Positioning.
Vincent Liu, the chief investment officer of Kronos Research, said the recent ETF outflows were due to institutional portfolio changes, not a structural shift in long-term interest rates. He explained that the withdrawals are an indication of de-risking amid rising geopolitical pressures and macroeconomic risks.
Liu further argues that rising trade disputes and the development of tariffs have strengthened a risk-off environment in financial markets. In that context, digital assets remain sensitive to macroeconomic headlines. He added that ETF flows may continue to fluctuate in the near term as investors adjust exposure.
Bitcoin-related products are not the only ones sold under pressure. ETFs on Spots have also been recording net outflows during the last five weeks. In the most recent week, Ether-focused funds recorded about $123.4 million in net withdrawals, according to SoSoValue data.
