Bitcoin price movements are moving into a high volatility zone, and famous crypto traders are strengthen the bearish outlook It’s playing out almost exactly as he predicted. Dr. Profit previously identified a 2021 peak of $68,000 and a cycle top of $125,000, and is now planning for further downside. Current fix This is just the first stage of a deeper decline.
Crypto Trader Reveals Bitcoin Price Target After Peak of $125,000
Bitcoin price has entered a significant downward cycle, dropping 8.4% in the past 24 hours and more than 17% in the past two weeks. doctor profit noticed X (formerly Twitter) stated that Bitcoin’s decline from $125,000 marks the first stage of a larger bear market trend. He sees the current environment as a transition period. characterized by short periods of integration Not real stabilization. According to his model, the next big move would indicate a deeper retracement, and Bitcoin price would eventually gravitate towards the next key target of the cycle, the $60,000 area.
This call is consistent with his historical cycle predictions. In previous cycles, he expected The top price in 2021 is around $68,000, expected to collapse It rose towards $18,000 and turned bullish at the bottom, predicting a rise towards $120,000. His bearish thesis has gained new credibility as the recent reversal formed directly at the levels he warned about months ago.
He also pointed This goes back to September’s warning that the cryptocurrency market was expected to shrink by 30%. About 25% have already disappeared, and he sees the economic downturn as a broader repricing rather than a simple correction.
Grayscale and BlackRock fuel Bitcoin’s massive price rally
In another post, Dr. Proffitt highlights the unusually large outflows from top asset managers and frames the activity as follows: Aggressive bearish positioning More than panic. On-chain data I support This indicates that the transfer log is deep and continuous, so Leaks from wallets linked to Grayscale Coinbase Prime. These transactions include batches ranging from approximately 14 BTC to nearly 500 BTC per transfer, resulting in multiple consecutive transmissions of over $47 million each. Sequences indicate coordinated offloads rather than individual reallocations.
Similarly, BlackRock’s IBIT Vehicle Executed A series of 300 BTC is repeatedly transferred to the same exchange infrastructure in parallel with other batches such as the 135.351 BTC movement logged. Each 300 BTC tranche reflects a flow of approximately $27-28 million at recent prices.
Analysts monitoring this trend reported that on November 20, more than $3 billion in Bitcoin flowed into exchanges in just 45 minutes. Aggressive selling of the cycle. As institutional selling increases and his cycle model tracks prices more closely, the market is adjusting its expectations. Bitcoin could remain well above its next expected level, and all eyes will be on its path from $125,000 to his $60,000 target.
Featured image created by Dall.E, chart on Tradingview.com
