Crypto Pundit Dumps Bitcoin Holdings Sub-$100,000, Lists Reasons Why It’s Time To Short

This article discusses the recent decline in Bitcoin’s price below $90,000 due to whales selling off in large amounts despite bullish news of Donald Trump signing an executive order for a Strategic Bitcoin Reserve (SBR). A well-known crypto analyst, Doctor Profit, has raised concerns about a major correction in Bitcoin’s price, signaling the start of the first large correction of this cycle.

The analyst pointed to the Strategic Bitcoin Reserve as a misinterpreted narrative, where the executive order focused on Bitcoin confiscated from previous seizures rather than accumulation by the US government, leaving bullish investors underwhelmed. Doctor Profit believes this shift in market dynamics could lead to a long-term decline in Bitcoin’s price.

He predicts a retracement to $50,000-$60,000 before Bitcoin resumes its bullish trajectory, recommending sell orders and entering short positions. Despite this bearish outlook, the analyst maintains that Bitcoin will eventually rally to new highs in the $120,000-$130,000 range. At the time of writing, Bitcoin is trading at $86,530.

The article also includes charts and images for reference.