The cryptocurrency market suddenly turned into a bloodbath on Friday. Bitcoin, the leading cryptocurrency, found equilibrium at $67,000 after dipping as low as $65,000. However, losses were deeper in the altcoin market. Even leading altcoins saw double-digit losses. Against this backdrop, legendary analyst and trader Peter Brandt shared a chilly forecast for the direction of XRP/BTC. This caused quite a stir in the crypto community.

What did Peter Brandt mean in his coded message?

Cryptocoin.comAs you’ve been following from the crypto market, the crypto market is taking a blood bath. Altcoins have given back their gains of the past weeks in this decline, where Bitcoin has also seen a sharp sell-off. The heavy selling has raised concerns among market players. In addition, analysts’ pessimistic forecasts for some tokens have turned these concerns into fear. Legendary analyst Peter Brandt joined them with a surprising comment on the XRP and BTC chart. The analyst created intrigue in the cryptocurrency community with this prediction. Sharing an encrypted prediction, Brandt stated that the XRP/BTC chart is “headed for Antarctica”. This caused confusion among investors and analysts.

The phrase “headed for Antarctica” can be interpreted in several ways. On the one hand, it implies a cold, bearish outlook for the BTC versus XRP chart. It’s also possible to understand that prices will fall to new lows, reminiscent of the frigid weather of Earth’s southernmost continent. On the other hand, it could symbolize a journey into uncharted territory, exploring depths previously unseen by the crypto market.

The latter scenario seems likely given Brand’s response to an X user who asked a question. “Or, to rephrase, to a level where XRP starts to outpace BTC historically,” the user said. Brandt responded positively to this question. “Or in other words, to a level where not a single buyer can make a profit,” he said.

The crypto market is taking a blood bath!

The timing of Brandt’s analysis is important as the crypto market in general has been volatile with significant losses. The risk-off sentiment in traditional markets spread to digital assets. Thus, cryptocurrencies fell sharply on Friday. Bitcoin hit a low of $65,110 during Friday’s trading session. It then rebounded slightly to above $67,000. At the time of writing, the leading cryptocurrency is trading down 4% in the last 24 hours.

The XRP versus BTC chart has long been the subject of scrutiny and speculation within the cryptocurrency community, with XRP hitting a near seven-year low against Bitcoin. As such, Brandt’s commentary on the XRP vs BTC chart has attracted attention. Also, many are eager to decipher the meaning behind his cryptic prediction. Without providing further details, Brandt’s statement remains open to interpretation. Investors and enthusiasts are wondering whether Brandt’s cold prediction will come true. So, they will be watching the market closely to see what course cryptocurrencies will take.