Analyst Says Bitcoin Entered Bear Market Below $80K

• Bitcoin lost the weekly MA100 and broke a bearish flag, confirming a shift from bull to bear market conditions.

• Analyst Doctor Profit now targets $70,000 next, with a deeper cycle bottom projected between $54,000 and $44,000.

• BTC slipping near MicroStrategy’s entry price may amplify fear as leverage and macro risks add volatility.

Bitcoin has entered a confirmed bear market after falling below $80,000, according to analyst Doctor Profit. He said the move followed weeks of sideways consolidation and occurred after Bitcoin lost its weekly MA100 indicator. BTC dropped sharply, validating warnings he issued earlier near the $95,000 level.

MA100 Weekly Loss and Technical Breakdown

Doctor Profit noted that Bitcoin lost the MA100 Weekly, a level he described as critical for defining market cycles. According to him, Bitcoin confirmed a bull market in October 2023 when it reclaimed this indicator. However, he said the loss of the MA100 this week signals a shift into a bear market.

He also pointed to a confirmed bearish flag breakdown that developed over recent weeks. In addition, he highlighted a death cross formation now unfolding on higher timeframes. These signals, he said, align with patterns seen after the 2021 cycle peak.

Revised Price Targets and Market Structure

Following the dip, Doctor Profit said Bitcoin is likely to consolidate before another move lower. He reiterated a $70,000 downside target and stated this level does not mark the cycle bottom. Based on updated models, he revised his projected bottom range to between $54,000 and $44,000.

He explained that his earlier bottom estimate of $50,000 to $60,000 required adjustment after recent price action. Notably, he said the current decline fits the broader cycle structure he outlined months ago near the $115,000 to $125,000 range.

MicroStrategy Exposure and Rising Market Fear

Doctor Profit also highlighted Bitcoin falling below MicroStrategy’s estimated average entry price near $76,000. He said this development could increase fear as MicroStrategy acquired much of its Bitcoin using leverage. According to his analysis, the company’s Bitcoin position now sits near breakeven.

He added that MicroStrategy’s funding pressures, combined with broader macro risks, could intensify volatility. Doctor Profit said these factors reinforce his bearish outlook and support the cycle-top call made earlier at higher price levels.