Experienced trader Peter Brandt highlighted that “Small” and “Large Banana Split” formations are developing, typically resulting in sharp volatility, bullish momentum, and potential parabolic price surges. The market has also reacted positively to easing US–Iran geopolitical risks, falling oil prices, and reduced macroeconomic uncertainty; BTC is trading at $69,803 at press time, showing early signs of short-term upward momentum.

Peter Brandt Shifts from Bearish to Bullish

Earlier today, Brandt shared on X his bullish outlook for BTC. In his recent analysis, he described Bitcoin’s long-term upward channel as the “Large Banana Split”, noting that micro-scale structures have also broken upward. Why is BTC rising? The technical answer lies in cyclical patterns that repeat approximately every 52 weeks, now reaching their final stage.

Brandt’s bullish stance comes shortly after a previous bearish view. He remained cautious in the crypto market for a period before adopting a bullish outlook on BTC. He specifically anticipates a major price move by October 2026.

The Big Banana is forming a Little Banana — and it indicates there is about to be a Banana Split $BTC pic.twitter.com/0bDCPU3tGP

— Peter Brandt (@PeterLBrandt) March 10, 2026

Large Banana Split and Potential Moves

Peter Brandt shared another weekly chart showing BTC still within a long-term parabolic channel, which he calls the “Large Banana Split”. Historically, this channel has been through multiple market cycles, while the short-term “Small Banana Split” signals Bitcoin’s preparation for the next major move.

Following declines in US oil prices and President Trump’s comments about ending the conflict soon, the crypto market responded positively. BTC could experience a sudden breakout, potentially mimicking previous market cycle patterns.

What This Could Mean for BTC

Bitcoin has been under pressure due to US–Iran tensions but has recently shown signs of relief, with prices rising as the conflict eases.

The “Banana Split” term refers to the expected price surge once both small and large formations are completed. The short-term curve suggests significant growth, marking the possible start of a bullish market. However, if the pattern fails, downward movements could still occur.

As of press time, BTC trades at $69,803, up 3.2% in a day, 2.7% over the past week, and 0.6% monthly. If Peter Brandt’s forecast materializes, BTC could reach as high as $280,000 in the long term. In summary, there are both risks and opportunities, and investors should remain cautious but optimistic.

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