I see a lot of people commenting on Doctor Profit's predictions lately. This trader who got many things right in the previous cycle is signaling something quite pessimistic for Bitcoin now.

After BTC hit $125,000, the correction has been severe indeed. We've lost more than 17% in two weeks and in the last 24 hours alone, it dropped 8.4%. Doctor Profit sees this as just the beginning of a much deeper fall, with a target pointing to $60,000. This guy had predicted the 2021 top near $68,000, so his analysis can't be ignored.

What stands out is that it's not just his opinion. On-chain data is confirming heavy outflows. Grayscale and BlackRock moved over $3 billion dollars in Bitcoin to exchanges in just 45 minutes. When large institutions move such volume, it usually means something is happening behind the scenes.

The folks watching the market know that when traders with a track record of accuracy start talking about big corrections, it's worth paying attention. Doctor Profit is very clear that this phase we're seeing is just the beginning of something bigger.