Market analyst Doctor Profit, known for his accurate forecasts regarding the recent Bitcoin price trajectory, has recently cast doubt on whether market makers will allow both retail and institutional investors to exit at more favorable prices after incurring losses.
Adding to the bearish sentiment, the Bitcoin price is currently hovering below the short-term holder realized price of $112,500. This figure represents the average entry point for short-term traders and buyers, many of whom are now facing losses.
“Nothing goes down in a straight line,” he notes, suggesting that while the market could be in a bear market, it is essential to remain aware of short-term fluctuations. He argues that high-leverage traders must be wiped out on both sides before the market experiences its next significant downward movement.
Looking ahead, Doctor Profit predicts that such price movements will continue to recur in the coming weeks and months, creating a challenging environment for investors in the volatile digital asset market.
Featured image from DALL-E, chart from TradingView.com
