Renowned analyst and trader Peter Brandt, who accurately predicted Bitcoin's crash to $16,000 in 2022, is now warning that the cryptocurrency may plummet to $48,000 if it fails to sustain critical support levels. Bitcoin's recent drop below $67,000 has sparked fears of further declines, and all eyes are on its next move.

Brandt shared a price chart of Bitcoin, highlighting $65,000 and $60,000 as crucial levels for its near future. If Bitcoin drops below $65,000, it may fall to $60,000, and a plunge below $60,000 could see it drop to $48,000. However, Brandt notes that the market can be unpredictable, and charts can change.

The latest inflation data from the US Labor Department shows signs of cooling, which could influence the Federal Reserve's approach to interest rates. A more dovish stance could offer relief to the crypto market and mitigate further declines in Bitcoin's price. Additionally, the recent expiry of 20,000 Bitcoin options has introduced volatility, with the maximum pain point set at $68,500.

In conclusion, Bitcoin's price faces a significant risk of plummeting to $48,000 if it fails to sustain critical support levels. While macroeconomic factors and options expiry add uncertainty, veteran analyst Peter Brandt's warning serves as a reminder of the market's unpredictability. As the crypto community watches Bitcoin's next move, one thing is clear - the road ahead will be filled with volatility and uncertainty.