Bitcoin (BTC) Price Crash from $97,000 Surprised Most Crypto Market Participants but Not This Analyst

Bitcoin's price crash from $97,000 in late February surprised most crypto market participants but not this analyst. The crypto analyst known as Doctor Profit

Crypto analyst Doctor Profit, known for his accurate technical outlooks, has shared a new perspective on the Bitcoin market, hinting at a potential continuation of the recent price decline in the short term.

Doctor Profit, who previously warned of a correction when Bitcoin was approaching $97,000, surprised most market participants as the cryptocurrency’s price crashed from that level in late February.

In an analysis shared on X, the analyst noted that the breakdown isn’t complete yet. This outlook comes from a former detailed analysis in which the analyst highlighted various Bitcoin price movements to watch out for, all of which have come to pass.

Doctor Profit’s analysis is based on the M2 money supply, a macroeconomic metric he believes is widely misunderstood within the crypto space. Many traders have recently cited the uptick in M2 as a bullish signal for Bitcoin, assuming that more liquidity means an immediate surge in prices.

However, Doctor Profit stressed that timing is everything. He noted that Bitcoin tends to front-run traditional markets when responding to M2 increases, but even then, the reaction is not instantaneous.

He reminds his followers that in July 2024, he predicted a 50bps rate cut, which was considered highly unlikely at the time. Once that cut materialized in September, around the same time Bitcoin was hovering near $50,000, he labeled it extremely bullish and called for a major rally.

As it turned out, the M2 money supply began expanding in February 2025, which aligned with his forecast. Yet, he cautions that while M2 is now climbing, its effect on Bitcoin will play out gradually.

Shifting his focus to Bitcoin’s price behavior on the charts, Doctor Profit highlighted the $70,000 to $74,000 range. He believes this range could either serve as a springboard for a fresh upward rally if a strong daily close occurs above the “Golden Line” around the weekly EMA50 or as a signal for a deeper downside if the price breaks beneath it.

Should a more dramatic breakdown occur, the analyst advised scaling back and waiting for even lower entries around the $50,000 to $60,000 zone. Doctor Profit predicted that the bull run will not resume until sometime around May or June, with upside targets of $120,000 to $140,000.