Veteran trader Peter Brandt has identified a chart pattern that could strengthen the bearish outlook for Bitcoin, placing renewed focus on a market signal that many traders are now watching closely. According to Brandt, the setup is not appearing on Bitcoin itself but on the ProShares UltraShort Bitcoin ETF (SBIT), a fund designed to deliver twice the inverse daily performance of Bitcoin. Because the ETF rises when Bitcoin falls, strength in SBIT often reflects growing bearish sentiment toward the leading cryptocurrency.