Bitcoin Under Pressure: Analyst Projects Drop to $60 K After Peak of $125 K

The experienced cryptocurrency trader, Doctor Profit, has returned to market headlines with a long-term analysis that poses a significant challenge for Bitcoin. After the asset reached its peak of $125,000, the expert points to a substantial correction, with the next critical support level located at $60,000.

The Analyst’s Prediction History

Doctor Profit has already demonstrated his market reading ability in previous cycles. During the 2021 bull phase, the trader correctly projected a top near $68,000, solidifying his reputation as one of the most attentive observers of Bitcoin’s cyclical movements. This time, his technical analysis suggests that the $125,000 peak marks the end of an important phase.

Recent Movement Confirms Volatility

In recent days, Bitcoin has faced considerable selling pressure. Over the past 24 hours, the market’s leading cryptocurrency declined by 0.98%, while over the last seven days, it shows a slight recovery of 0.25%, trading around $87,260. Extending the analysis to two weeks, the accumulated losses already exceed 17%, signaling a clear reversal of the bullish trend.

Dr. Profit Crypto interprets this decline in phases, considering the current as just the first move of a deeper correction yet to come. This perspective suggests that before reaching the $60,000 target, there may be other intermediate levels of volatility.

Institutional Pressure on Exchanges

On-chain data reveal a concerning pattern: large outflows of Bitcoin from institutional providers. Grayscale and BlackRock recorded substantial movements, with over $3 billion in Bitcoin leaving exchanges in just 45 minutes on November 20. This volume of BTC entering trading markets typically indicates preparation for profit-taking or redistribution of positions.

This institutional dynamic reinforces the more pessimistic thesis for the short and medium term, aligning with the analyst’s conservative projection of Bitcoin’s upcoming price movements.