Veteran trader Peter Brandt recently participated in a discussion on X centered around valuation models and their impact on Bitcoin prices.
The discussion on X began with an X post from Strive strategist Joe Barnett, who said Bitcoin’s power law model suggests BTC should be around $163,500 today. Barnett speculates that a major rotation of capital into Bitcoin is on the horizon. Bitcoin is currently trading above $75,000, about 53% away from the power law model’s target of $163,500.
Cryptocurrency trader Chezz Trading responded to Barnett’s tweet, questioning the need for fancy valuation models.
“Why do we need fancy models when we can be told what the market should be? I really don’t understand the idea that ‘the market is wrong,'” Chez Trading wrote.
The price is never wrong. Price is king. Opinions count for a penny or two
— Factor Report (@PeterLBrandt) May 27, 2026
Chez’s trading comments prompted a reaction from veteran trader Peter Brandt, who reflected on his views. Mr. Brandt responded, “Price is never wrong. Price is king. My opinion doesn’t change a penny or two.”
Brandt’s response proves the principle underlying technical analysis: the market is never wrong. Market value at a particular point in time is determined based on variables such as investor sentiment, market forces, and world events. Brandt’s statements that “price is never wrong” and “price is king” are evidence that market prices are the most reliable indicator than theoretical models or external narratives.
Bitcoin price fluctuation
Bitcoin failed to break above $78,000 on Tuesday, but has returned to levels above $75,000. Bitcoin reached a high of $78,015 on May 26th after a three-day rally, but the bulls were unable to advance.
At the time of writing, Bitcoin has fallen 1.58% in the past 24 hours to $75,797. This is because while the entire crypto market is trading largely in losses, some assets are making profits.
What traders are currently focused on is a setup forming on Bitcoin charts. The 50-day SMA and 200-day SMA are settings known as golden crosses, which are generally taken as positive signals and are on track to be crossed in the coming weeks. A break of either moving average before the Golden Cross could determine the direction of the crypto market in the coming weeks.
