PANews reported on July 19 that crypto trader Doctor Profit said he has closed all of his cryptocurrency short positions.
According to his statement, those closed trades included a Bitcoin short opened in the $115,000 to $125,000 range, another Bitcoin short opened in the $79,000 to $82,000 range, and more than 100 altcoin shorts opened over the past several months. He said all of those positions were profitable.
Spot Bitcoin buying plan
Doctor Profit also said he re-entered Bitcoin spot at $64,000. He added that as long as BTC remains in the $54,000 to $64,000 range, he will buy spot every day using 5% of his allocated capital, for up to 20 days. If the price gets closer to $54,000, he said he will step up purchases.
View on the market bottom
Doctor Profit said many market participants are waiting for September to October as the bottom of the four-year cycle, calling that expectation “herd behavior.” In his view, the bottom may arrive earlier and may not leave those waiting with a perfect low.
He also said the broader backdrop has changed in a fundamental way, pointing to the CLARITY Act, tokenization infrastructure, institutional adoption, and capital inflows from large institutions.
S&P 500 shorts remain in place
On U.S. equities, Doctor Profit said he has kept all of his short positions on the S&P 500 Index. He argued that Bitcoin and the stock market are not the same trade and are in different stages of their cycles.
He added that the crypto bear market began in October 2025 and has lasted nine months, while the stock market has remained resilient throughout that period. In his view, crypto prices have already been repriced, while the stock market is still overvalued.