Has the Bitcoin Bear Market Already Begun?
Is Bitcoin entering a bear market? Analysts point to key levels around $90K–94K that could confirm a major trend shift.
- Analyst DrPROFIT maintains a bearish stance since mid-August.
- Bitcoin’s recent price action supports the bear thesis.
- Key confirmation lies in how Bitcoin reacts to the $90K–94K level.
Crypto market watchers are asking: Has the Bitcoin bear market already begun? According to renowned trader DrPROFIT, the signs have been visible since mid-August. Despite recent bullish sentiment in the markets, his bearish outlook remains firm — and backed by data.
Let’s break down his reasoning and what to watch for in the coming weeks.
Positioning Ahead of the Curve
DrPROFIT turned bearish on Bitcoin between $115,500 and $119,000 back in August, warning that a major downtrend could follow. Over the past month, Bitcoin has traded below this range more than 77% of the time, validating his short position strategy. This, he says, proves the timing of his calls — especially as price spikes like the mid-September jump to $117,800 were seen as opportunities to scale into shorts, not signs of a bull run.
In his view, the move below this range is just the beginning, and Bitcoin could drop further.
All Eyes on the $90K–94K Zone
The $90K–94K range is where the market may decide its next big direction. DrPROFIT believes this level is crucial:
- If Bitcoin bounces, it could mark a bottom.
- If Bitcoin breaks below, it could confirm a full bear market.
He emphasizes that while the bear market probability is “extremely high,” confirmation will only come once this level is tested. The market’s reaction at $90K–94K will either reinforce the bearish scenario or hint at a potential recovery.
Long-Term View Still Bearish
Importantly, DrPROFIT reminds followers that weekly chart patterns take time to develop — sometimes stretching over several months. His analysis from August remains valid, even if short-term volatility creates temporary price spikes.
In his words, any move above $115K–$117K should be seen as a gift — an opportunity to enter short positions with better risk-reward.
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