Renowned cryptocurrency trader Doctor Profit has announced the re-establishment of significant short positions on Bitcoin (BTC), targeting the current price range of 86,500 to 89,500 USD. The trader disclosed on the X social media platform that he is utilizing a staggered entry strategy to build a swing short position, citing signs of market overheating and excessive leverage. This strategic pivot comes exactly one year after the digital asset reached its historical all-time high of approximately 126,000 USD in October 2025.
Strategic Shifts and Historical Context
Doctor Profit’s current market stance is rooted in a history of high-stakes trades executed over the past year. In late 2025, as Bitcoin peaked, the trader reportedly cleared his long positions and established large short orders. During the subsequent market correction, which saw the BTC price descend toward the 60,000 USD mark, he successfully closed those shorts and transitioned back into spot buying.
The trader provided a breakdown of his recent activity:
- Closed all short positions in the 60,000 USD area to begin spot accumulation.
- Initiated new short orders starting at 86,200 USD as of early October 2026.
- Placed additional large short orders in the 86,500 to 89,500 USD range.
- Maintains long-term investment holdings in Ethereum (ETH), Coinbase (COIN), and Circle (CRCL) despite short-term bearish bets.
Market Distribution and Risk Factors
According to the trader, the current price zone between 86,500 and 89,500 USD represents a distribution phase, rather than a breakout setup. He emphasized that these short positions are managed with 2x leverage to mitigate risk while simultaneously maintaining a spot position.
This is why I'm out of Alts! The altcoin market is showing signs of overheating, with spot volume now four times higher than that of Bitcoin.
The analyst further warned that excessive borrowing-based trading in the altcoin sector has raised the probability of forced liquidations. He pointed to bearish signals in technical indicators such as the RSI and MACD as justification for a potential pullback toward the 79,000 USD level, which aligns with the 50-week moving average.
The re-entry into short positions reflects a cautious outlook on the immediate price trajectory of the blockchain industry's flagship asset. As of October 7, 2026, Bitcoin continues to trade within a volatile range, with major support identified near 83,000 USD. Market participants are closely watching these levels, as a failure to maintain current support could validate the bearish distribution thesis proposed by prominent swing traders.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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