Crypto trader Doctor Profit disclosed that he has liquidated every short position held on Bitcoin and over 100 altcoins, shifting back to purchasing Bitcoin on the spot market. This reversal follows his prior shorts initiated when Bitcoin traded between $115,000 and $125,000, as well as positions opened around the $79,000 to $82,000 range.
Market Position and Strategy Details
The analyst revealed that his recent Bitcoin spot purchases occurred near the $64,000 mark, representing his first long-term investment in the asset since September 2025. Doctor Profit plans to allocate 5% of his investment capital to daily Bitcoin spot buys as long as the price remains between $54,000 and $64,000. This accumulation strategy is designed to last no more than 20 days, with increased purchases if Bitcoin nears the $54,000 support level.
He noted a growing herd mentality among investors, with many who forecasted a rise to $150,000 now predicting declines to the $40,000 to $50,000 range. However, Doctor Profit cautioned that widespread expectations for a market bottom in September or October could cause different price dynamics than anticipated, suggesting the bottom may arrive sooner.
The shift back to buying is underpinned by clearer cryptocurrency regulations, improved infrastructure for asset tokenization, and advancements in institutional adoption. These structural improvements influenced his decision to retract earlier predictions of Bitcoin dropping to $40,000 to $50,000.
This material is informational and not financial advice.
