- Bitcoin hit $60,000 before trading back at a slightly higher price range.
- BTC trades in the $63,000 price zone at the moment.
- Many wonder if the bottom is in for the pioneer crypto asset.
The crypto market experienced a continuous dump in prices, starting with the price of Bitcoin falling from $73,000 to $60,000 in under 7 days. Since Bitcoin hit $60,000 before trading back at a slightly higher $63,000 price range, analysts and traders come together to debate whether the bottom is in for the pioneer crypto asset. Alongside BTC, ETH fell from $1,990 to $1,660 in the last 7 days.
Bitcoin Hit $60,000 Before Trading Back at a Slightly Higher Price
Presently, bearish analysts are pleased to see their bearish predictions slowly play out in real time. At the moment, with the price of BTC trading under $65,000, bearish analysts have made quite the profits from shorting BTC at higher price targets. One of the loudest bear analysts in the market at the moment is Doctor Profit, an analyst and trader known to have made many accurate predictions so far.
As we can see from the post above, the silver-tongued analyst went on to share his latest BTC weekly report. Here, he revises his bearish predictions so far and goes on to highlight what he expects to see next for the price of Bitcoin. Spoiler alert: he expects BTC to continue to fall to lower price ranges, where he believes the asset will finally set a bottom, likely in the $40,000 – $45,000 price range.
He begins his post by bragging about the profits made on both shorts from the $120,000 and $80,500 price range. As for what he expects next, he calls it ‘The Confirmed BlackRock Bottom (CBB)’, which is the final Bitcoin bottom expected to hit this year. He places his in the price region where BlackRock launched its ETF in early 2024, roughly the $40,000 – $48,000 zone. He then concludes that Bitcoin has not completed its bear market cycle.
Is the Bottom In for BTC Yet?
According to him, the final Stage 5 phase of the Bitcoin bear market has begun. For now, the $60,000 BTC support range is holding, and as long as it does, there is a high probability of BTC climbing as high as the $66,000 price range. Doctor Profit says that the final bottom will likely arrive between September and October 2026. Thus, he predicts violent moves below $60,000, followed by sharp rallies back above it.
He ends his report with a call to expect brutal short squeezes, painful long liquidations and heavy manipulation in both directions. This phase is designed to inflict maximum pain on both bulls and bears before the final bottom is established. Meanwhile, despite how challengin and bearish the crypto market looks, some bullish analysts stick true to their bearish expectation, remaining undeterred.