Analyst sees BTC bottoming around $40K this fall

Analyst Doctor Profit has projected that Bitcoin will bottom out in the $40,000 to $50,000 range. Writing on X, he noted that he is still maintaining short positions entered at $120,000 and $80,500, and plans to hold them as long as BTC remains below $80,000. According to the analyst, the current market is not ready for chasing buys or discussing a bullish reversal. He described the market as fatigued from sideways movement, a typical precursor to a capitulation phase. Doctor Profit suggested that a drop below $60,000 would trigger the start of a full-scale capitulation. This could be amplified by selling from long-term holders, the collapse of an exchange or a major institution, or a black swan event, leading to widespread market fear. He anticipates the final bottom will occur between September and October of this year.