Cryptocurrency analyst Doctor Profit has suggested that Bitcoin is currently showing patterns similar to those seen during the 2022 bear market, raising the possibility of a new wave of sharp
Cryptocurrency analyst Doctor Profit has suggested that Bitcoin is currently showing patterns similar to those seen during the 2022 bear market, raising the possibility of a new wave of sharp sell-offs. According to Doctor Profit, the weekly chart is presenting a structure reminiscent of the period that preceded the notorious “death cross” in the previous bear run. Within this framework, the analyst has identified the $42,000 to $43,000 range as the primary downside target for Bitcoin in the coming period.
Doctor Profit highlighted the formation of a death cross on the Bitcoin weekly chart in 2022, a technical pattern that had emerged shortly after BTC dipped below its 200-week moving average. The analyst noted that, roughly two months later, the market registered a “capitulation candle” in the $15,000 to $16,000 range, after which Bitcoin tumbled nearly another 30%.
According to the analyst, a similar scenario appears to be unfolding today. Bitcoin has again slipped beneath its 200-week moving average, and the same moving average cross pattern seen before the 2022 death cross is making a reappearance on the weekly chart.
Glossary: The “death cross” is a technical signal that occurs when a short-term moving average drops below a long-term moving average. “Capitulation” refers to a period when selling pressure peaks and investors exit positions en masse.
Doctor Profit argued that the 200-week moving average should not be treated as a firm support level, stressing that many investors who bought at this price level are now holding losses.
Emphasizing the importance of entry levels, Doctor Profit argued that the price at which investors buy in has a direct impact on investment outcomes, pushing back on the view that entry price is irrelevant in markets.
Drawing on historical market data, the analyst claimed that Bitcoin has typically dropped about 30% below its 200-week moving average during each bear market cycle. In past cycles, the market bottomed out through sharp capitulation rather than a slow and steady recovery, Doctor Profit noted.
According to the analyst’s calculations, if the $60,000 level is used as the starting point and the historical pattern of a 30% drawdown is applied, Bitcoin could find support directly in the $42,000 to $43,000 band. Doctor Profit added that he has been eyeing this region as a major target since September 2025.
Doctor Profit noted that the $42,000-$43,000 range also corresponds to the zone where BlackRock’s spot Bitcoin ETF entered the market, marking an area of significant technical support. BlackRock, as one of the world’s largest asset managers, plays a pivotal role in Bitcoin markets due to its involvement with spot ETFs.
The analyst said the likely bottom of the current market cycle could form in this zone. He projected that this capitulation could take place in September or October 2026, adding that multiple independent indicators also point to this price region as a probable bottom.
Doctor Profit believes the market is currently in what he terms the fifth phase of his scenario classification. He stated the re-emergence of moving average cross patterns fits his expectations for market development.
The analyst asserted that true capitulation has not yet occurred and that maximum fear still hasn’t gripped the market. While Doctor Profit acknowledged that realized losses are rising, he does not think the market has entered an extreme phase. He indicated he is waiting for a full-scale capitulation before making new entry moves.
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