Bitcoin price action has moved into highly volatile territory, with well-known cryptocurrency traders Strengthening bearish outlook It’s unfolding almost exactly as he expected. Doctor Profit, which previously pinpointed a high of $68,000 in 2021 and a high of $125,000 this cycle, is now plotting further declines. current fix It’s just the first step in a much deeper decline.
Crypto Trader Reveals Bitcoin Price Target After High $125,000
The price of Bitcoin has entered a pronounced bearish cycle, with losses of 8.4% in the last 24 hours and more than 17% in the past two weeks. doctor profit famous X (formerly Twitter) indicates that Bitcoin’s decline from $125,000 is the first step in a larger bear market trend. He frames the current environment as a transitional zone. Shown as a brief integration Rather than a true stabilization, according to his model, the next major move is toward a deeper retracement, with Bitcoin price ultimately pulling toward the $60,000 region, the next important target of the cycle.
This currency is consistent with his historical cycle predictions. In the previous cycle he expected The 2021 high is near $68,000; expected a collapse I predict a rally towards $18,000 and then a bullish turn from that bottom towards $120,000. His bearish thesis has gained new credence, with the recent reversal forming directly from levels he had marked months in advance.
He too pointed Back to September’s warning that the cryptocurrency market would contract by 30%. With about 25% already gone, he sees the recession as a widespread price adjustment rather than just a correction.
Grayscale and BlackRock Accelerate Massive Bitcoin Price Decline
In a separate post, Doctor Profit highlights unusually large outflows from top asset managers, organizing their activity as follows: Aggressive bearish positioning Rather than panicking. On-chain data apply This is because the transfer log is deep and continuous. Leaked from Grayscale linked wallet With Coinbase Prime. These transactions involve batches ranging from approximately 14 BTC to nearly 500 BTC per transfer, with multiple consecutive transfers worth over $47 million each. The ordering represents coordinated offloading rather than isolated reallocation.
similarly, BlackRock’s IBIT Vehicle Implementation The 300 BTC string is sent repeatedly to the same exchange infrastructure, with other batches such as the 135.351 BTC movement captured in the logs. Each 300-BTC tranche reflects a flow of approximately $27-28 million at recent prices.
Analysts observing this trend reported that on November 20, more than $3 billion worth of Bitcoin entered exchanges in just 45 minutes. Aggressive cycle selling. As institutional selling increases and his cycle model tracks prices closely, the market is adjusting its expectations. Bitcoin could remain well above the next predicted level, keeping interest on a path from $125,000 to the $60,000 target.
Featured image created with Dall.E, chart from Tradingview.com
editing process for focuses on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is diligently reviewed by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of the content for readers.
