is approaching the year’s end after a weak fourth quarter performance, prompting speculation of a bear cycle that started in September. An anonymous
analyst, Doctor Profit, suggests that the market’s ultimate bottom has not yet formed, and it may take another 12-14 months for a lasting bottom to establish. Despite this, the analyst expects a short-term rise, with the possibility of a significant downturn not occurring before February-March 2026.
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Doctor Profit: The Bottom Needs Time
Doctor Profit closely monitors the market and believes that Bitcoin has yet to form its lasting bottom. The analyst suggests the final bottom level could form around $60,000, and the price may need to accumulate liquidity by moving sideways for an extended period before reaching this point. This approach is based on the assumption that markets typically form bottoms not through rapid declines, but through patient processes that wear down participants.
In the short term, Doctor Profit paints a different picture. The analyst indicates that Bitcoin could find limited upward space to the $97,000-$107,000 range in the coming weeks. Expecting no major downward break before early 2026, the analyst views the current period as a phase that tests psychological resilience. Doctor Profit anticipates a significant number of investors will exit the market during this phase, potentially weakening buying interest at the ultimate bottom.
In terms of risk management, Doctor Profit expresses intentions to take advantage of the short-term rise with strategic positions, while also maintaining protective measures against the main downtrend. With this approach, the analyst aims to benefit from a potential 20% upward move and balance downward risks.
2026 Scenarios for Bitcoin
Another analyst, Mr. Wall Street, highlights a similar short-to-medium-term divergence in Bitcoin. While maintaining a medium-term bearish outlook, Mr. Wall Street argues that downward liquidity has not yet reached sufficient levels. Therefore, Bitcoin might experience a relief rally towards the $98,000–$104,000 band, a critical liquidity area.
Mr. Wall Street reveals that he purchased Bitcoin near $84,500 after it held around the 100-day moving average on the weekly chart. He stresses that the expected rise does not indicate a permanent trend change but serves as a “bull trap” that could mislead investors into the wrong positions. The analyst suggests that the $64,000-70,000 range might resurface by the end of the first quarter or early in the second quarter of 2026.
On the macroeconomic front, a more pessimistic picture is painted. Doctor Profit suggests that global market liquidity stress is signaling a crisis similar to or even more severe than 2008. The analyst believes the Federal Reserve’s high-value, collateralized short-term borrowing options under the Standing Repo Facility serve as a defensive line to prevent sudden freezes rather than to stimulate markets. In Doctor Profit’s view, rising debt burdens and inflation pressure might pave the way for a major financial crisis in 2026, after which a large-scale monetary expansion could spotlight Bitcoin and similar assets long-term. Conversely, Bitwise CIO Matt Hougan offers a more optimistic outlook, keeping the possibility of Bitcoin reaching new highs in 2026 on the agenda.
