Market Alert: Bitcoin Faces Critical Correction Risk
Bitcoin has plunged below $90,000 as major whales initiate a significant sell-off, coinciding with Trump’s controversial Strategic Bitcoin Reserve (SBR) announcement. Leading crypto analyst Doctor Profit warns of an imminent 40-50% price correction that could reshape the current bull cycle.
Key Market Developments:
- Bitcoin trading at $86,530, down from recent highs
- Whale addresses showing unprecedented selling pressure
- Strategic Bitcoin Reserve implementation raising concerns
- Doctor Profit liquidates 50% of holdings acquired at $16,000
Strategic Bitcoin Reserve: Reality vs. Expectations
The market’s initial enthusiasm for Trump’s SBR initiative has quickly turned to skepticism as details emerge. Rather than new Bitcoin acquisitions, the program focuses primarily on managing previously seized assets, disappointing investors who anticipated significant government buying pressure.
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Technical Analysis: Price Targets and Support Levels
Doctor Profit’s analysis suggests multiple price targets:
- Initial Support: $74,000
- Major Support Zone: $50,000-$60,000
- Short Entry Range: $90,000-$102,000
- Ultimate Bull Target: $120,000-$130,000
Market Implications and Trading Strategy
The analyst’s trading approach involves a methodical distribution of sell orders and strategic short positions. This correction could present a significant buying opportunity for investors looking to accumulate Bitcoin at lower prices before the anticipated rally to new all-time highs.
Expert Outlook
Despite the bearish short-term outlook, long-term projections remain optimistic. Historical bull market patterns suggest this correction could be a necessary reset before Bitcoin’s next major leg up. Traders are advised to maintain strict risk management during this potentially volatile period.
Source: NewsBTC