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Bitcoin’s price fluctuated almost steadily during the year-end holiday period amid caution and a drop in institutional participation, prompting some experts to warn that the market could face a more difficult phase in the period ahead.
A cryptocurrency analyst known as “Dr. Profit” believes that Bitcoin may not bottom before September or October 2026.
In a recent tweet, he explained that he was converting his remaining assets to USDT and no longer holds any liquid digital assets because current market conditions do not support the cryptocurrency market to remain liquid.
He also said that the bearish phase could last for a long time.
Currently, Bitcoin is trading around $88,500, up nearly 2% daily.
Although improvement is limited in the short term, the price remains below key resistance levels.
According to CryptoQuant data, the $100,000 level represents strong resistance in the near term as the average purchase price is concentrated among a subset of new whales and Binance platform users.
The new whales have been holding Bitcoin for less than 155 days and the average entry price is around $100,500, making this level a key area where profit-taking operations or the consolidation of buying positions may occur, which may determine the next phase of price direction.
By comparison, the average purchase cost for Binance users on spot trading is around $56,000, a level that could represent important support if the downtrend continues for an extended period.
As for whales holding long positions, the holding period is more than 155 days, and their average buying cost is about $40,000, which means they are still making considerable profits, and they may be one of the leading parties in recent profit-taking operations.
In the same context, analyst Ali Martinez reinforced the negative outlook after monitoring Bitcoin’s movement near the 50-week simple moving average (SMA).
He explained that a break above this level in previous sessions tends to result in an average drawdown of around 54%.
Based on current prices, a pessimistic scenario could mean that the price could drop to $40,000.
While he stopped short of hinting at an imminent drop, he warned that a failure to recover to those levels could lead to downward pressure.
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