Dr. Profit, a notable trader in the crypto market, announced that he has closed all short positions in Bitcoin and altcoins and has resumed buying spot BTC.
Dr. Proffitt said that among the positions he closed was a short Bitcoin position created between $115,000 and $125,000 in Bitcoin, and another short Bitcoin position created between $79,000 and $82,000. The trader also stated that he had closed all his short positions in over 100 altcoins over the past few months and made significant profits from these trades.
Dr.Profit announced that it had bought back Bitcoin in the spot market at the $64,000 level. He said the purchase marks his first long-term Bitcoin investment since September 2025.
The trader’s plan is to use 5% of his total invested funds to make spot purchases every day as long as the Bitcoin price remains between $54,000 and $64,000. The strategy is expected to last up to 20 days, with purchases increasing as Bitcoin approaches the $54,000 level.
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Dr. Proffitt said he had observed significant “herd behavior” in the current market conditions. He noted that many investors who previously expected Bitcoin to rise to $150,000 now expect the price to fall to the $40,000 to $50,000 range.
The trader noted that the market’s general expectation is that the bottom of the four-year cycle will come in September or October, but argued that the fact that many investors are expecting the same price level and the same time period could lead to different movements in the market.
Therefore, Dr. Proffitt, who explained that he started forming positions earlier than the market generally expected, believes that we may see a bottom in Bitcoin sooner than investors expect.
Doctor Profit cited clarification of crypto regulations, advancements in asset tokenization infrastructure, and progress in institutional adoption as structural reasons behind the return to purchases.
The trader also announced that he was reversing his previous prediction that Bitcoin would fall in the $40,000 to $50,000 range.
*This is not investment advice.
