Doctor Profit exits altcoins, takes 73% profit on ONDO

Crypto analyst Doctor Profit said Doctor Profit has exited altcoin holdings, arguing the market has become overheated. In a post on X, Doctor Profit said altcoin spot trading volume had reached four times that of BTC and leverage had built up excessively. Doctor Profit said ONDO was sold for a 73% gain, HBAR was also sold at a profit, and XRP was sold while awaiting a re-entry point. Doctor Profit added there are no plans to buy altcoins for now, as a correction is expected. Doctor Profit also said a short position in BTC was opened at $86,200 for the same reason, with additional short orders placed in the $86,500-$89,500 range. At the same time, existing holdings in BTC and ETH, along with shares of Circle (CRCL) and Coinbase (COIN), are being maintained. Doctor Profit added that when BTC was at $60,000, a move to $88,000 had been projected, followed by a correction to as low as $79,000, and that the current positioning is aimed at preparing for that pullback.