Over the past week, Bitcoin dropped to a three-month low of $102,500, triggering $20 billion in liquidations. Since that, it has bounced back slightly by about 6%, but the rally lost strength as Bitcoin dropped 3% to $111,800, with big whale shorts leaving the market on edge.
Meanwhile, Popular crypto analyst Doctor Profit offers a detailed breakdown of what traders can expect in the short, mid, and long term.
Bitcoin Price Prediction: Exerts Views
Through a recent tweet post, Doctor Profit shared his latest Bitcoin Price Prediction, dividing it into short-term, mid-term, and long-term expectations.
Short-Term (This Month): Initially, Bitcoin showed signs of a small relief bounce, also called a dead cat bounce. Traders took profits on short positions and re-entered via BTC spot trades. However, updated market data reversed this scenario, prompting a return to short positions.
The short-term direction remains highly data-dependent, making cautious trading essential.
Mid-Term (1–3 Months): The mid-term price outlook is clearly bearish. Doctor Profit identifies the recent $115,000–$125,000 range as the market top, with BTC expected to trend downward.
Minor upward corrections are possible but are unlikely to change the broader downtrend.
Long-Term (3–12 Months): The long-term forecast is extremely bearish. Macro-economic pressures, global financial instability, and ongoing market weakness point to an extended downward trend for Bitcoin.
With the Fed expected to have 2 more rate cuts, which will be bullish for bitcoin & the crypto market.
What Traders Should Expect Next?
This week, Bitcoin has been trading mostly between $110,000 and $113,000, showing hesitation from both buyers and sellers. Meanwhile, the fear and greed index shows Bitcoin is in fear territory, sitting at 38, reflecting cautious market sentiment.
Adding to the fear is the bearish stance from whales, as per Coinpedia news report, a whale trader recently placed a $392 million short, pushing Bitcoin down further after it failed to break the $116,000 resistance.
From a technical point of view, Bitcoin has fallen below its 100-day EMA at $111,500, which now acts as immediate resistance. If it can’t move back above this level, the next target for sellers could be around $108,000.
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