Crypto Analyst Sells Bitcoin Holdings, Predicts Major Price Correction

Bitcoin has dropped below $90,000 due to substantial sell-offs by whales, despite bullish news regarding the U.S. government's Strategic Bitcoin Reserve (SBR) initiative. This has raised concerns about a potential extended bearish trend.

• Analyst Doctor Profit warns of an impending major correction in Bitcoin's price.
• He is selling a significant portion of his holdings and entering short positions based on current market conditions.
• The SBR announcement focused on confiscated Bitcoin rather than new government purchases, disappointing bullish investors.

Doctor Profit believes the early signing of the policy indicates a shift in market dynamics, catalyzing a possible long-term decline. He anticipates a 40-50% correction, targeting a price range of $50,000–$60,000 before potential recovery towards $120,000–$130,000.

• He sold 50% of his holdings, which he acquired at $16,000.
• Short orders are placed within the $90,000–$102,000 range, with profit targets set at $74,000 initially.

Currently, Bitcoin trades at $86,530.