Bitcoin's market structure has shifted into a new phase, according to analyst Doctor Profit. He updated his multi-stage bear market framework, stating the cycle has progressed to Stage 5, with further downside conditions developing.
Stage 5 Confirmed: $60K as Trap Support
Doctor Profit noted that Stage 4 ended and Stage 5 has begun. His prior short positions from 120,000 and 80,500 remain active, aligned with a September 2025 framework. He described the $60,000 level as a perceived but incomplete bottom — a trap zone where false bottoms often form before deeper declines. Bitcoin tends to move in liquidity-driven swings rather than straight drops, he added.
BlackRock Bottom Range: $40K-$48K
The analyst identified a long-term target range of $40,000 to $48,000 as the "Confirmed BlackRock Bottom," a zone linked to the ETF launch period in early 2024. He stressed that Bitcoin has not completed its bear cycle and that this range represents the potential final cycle low. A white line support at $60,000, held since the BlackRock ETF launch, is expected to break over time. Before that, a move toward $65,000-$66,000 is possible.
Timeline: Potential Bottom in Sept-Oct 2026
Stage 5 is the final capitulation phase in a six-stage structure. Doctor Profit placed the timeline for a possible bottom between September and October 2026. He warned this phase could include sharp drops below $60,000 followed by violent rebounds. He also referenced past bear market catalysts such as exchange collapses, predicting similar stress events that trigger liquidation-driven volatility and rapid price reversals.