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, who previously warned of a correction when Bitcoin was approaching $97,000, recently released a new technical outlook that dissuades a bullish trajectory in the short term.

In a breakdown shared on the social media platform X, Doctor Profit 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 Says Bitcoin Market Dump Is Just Beginning

Bitcoin has experienced ups and downs in the past few days with incredibly volatile movements. These ups and downs saw the Bitcoin price fall below $75,000 at the beginning of the week before spending the past four days on a recovery path towards $80,000. Amidst the price volatility, crypto analyst Doctor Profit clarified that he expects the current downward move in Bitcoin’s price to extend further.

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In a recent post on social media platform X, the analyst described the correction as a “market massacre” that is expected to continue, stating that the party just started. He revealed that he had placed his first buy orders within the $58,000 to $68,000 range, suggesting that the Bitcoin price would keep falling until it reaches this region.

Rather than seeing the recent decline as a setback, the price action is a calculated part of the broader strategy which the analyst laid out in an earlier detailed analysis.  

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, the analyst 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.

What To Expect With BTC

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.

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Looking at Bitcoin’s price behavior on the charts, Doctor Profit shifted his focus to 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.

Bitcoin has managed to push above $81,000 after Donald Trump announced a 90-day pause on his ground-breaking tarriffs. At the time of writing, Bitcoin is trading at $82,000, up by 7% in the past 24 hours.

Featured image from Unsplash, chart from Tradingview.com

• Dean Skurka is the president and CEO of WonderFi, a Canadian crypto company
• Skurka was forced into a vehicle in downtown Toronto during rush hour
• He said that client funds and data remain safe and weren’t impacted by the kidnapping

The kidnapped CEO of Canadian cryptocurrency company WonderFi has returned safely after electronically transferring CAD$1 million ($720,000) to his captors.

On Wednesday, at around 6 p.m. during rush hour, Dean Skurka, the president and CEO of WonderFi, was forced into a vehicle in the area of University Avenue and Richmond Street W. in downtown Toronto, reports CBC.

Skurka was ordered to pay the ransom demand of CAD$1 million. He was later released in Centennial Park in Etobicoke, according to a source close to the investigation. Speaking about the kidnapping, Skurka said:

“The safety and security of all of WonderFi’s employees are paramount. Client funds and data remain safe, and were not impacted by this incident.”

According to Jameson Lopp, co-founder and chief security officer of Casa, a security firm focused on protecting crypto users, Skurka’s kidnapping is the 171st case where violence has been used to target crypto holders.

Lopp said:

“As the [Bitcoin] price goes up, more awareness of the space permeates throughout society and as a result, more criminally minded people decide they want to try to figure out what the ROI of executing a physical attack against a known crypto holder is.”

The kidnapping comes at a time when Bitcoin is going through a price rise.

Yesterday, Bitcoin achieved a new all-time high of $76,677 on major crypto exchanges. The new price came amid the US Federal Reserve announcing a 25 basis points interest rate cut.

Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

The first-ever meme coin’s ecosystem has marked a landmark today, releasing its update on Dogecoin Core 1.14.8. The latest update, as revealed by the community on Github, remains primarily focused on enhanced bug fixes, among other things.

The Core client, a vital component of the DOGE ecosystem, found significant complexities when releasing the initial update, wherein the release process could not reproduce the ‘same outputs’ as desired. Aiming to rectify these issues, the community revealed the new Core 1.14.8 version today.

Dogecoin Core 1.14.8 Brings Bug Fixes To Networking Code

According to ‘Junior Developer’ on X today, August 8, the Core 1.14.8 update has been released. The “release includes important networking code updates,” he added. Furthermore, “We strongly recommend all users on every platform update soon,” the post stressed. Meanwhile, the newly introduced bug fixes encompassed:

• Reduced peer inv object counts
• Improved transaction request tracking
• Improved orphan transaction handling
• Reduced getheaders traffic for inv-messages
• Enhanced reporting of difficulty adjustment errors.

The abovementioned bug fixes primarily improve efficiency, security, reliability, and trust on the blockchain network. Also, the update notified that “availability of a notarized MacOS dmg is delayed due to a hiccup in the interaction with Apple’s service, but it is expected to be provided at a later time.”

Earlier this month, Junior Developer spotlighted the significance of Dogecoin Core, stressing its vital roles in node operation, wallet functionality, and transaction validation process. The update remains crucial in maintaining a proper, seamless functioning of the Core software.

Also Read: Pro-XRP Lawyer Enjoining Elon Musk To Integrate XRP To X Payments

DOGE Market Performance

On the other hand, DOGE price saw a 1.66% dip in value today, resting at $0.1 at press time. The Dogecoin price 24-hour lows and tops were recorded as $0.09398 and $0.1018, respectively. Weekly charts show a 17.10% fall in the dog-themed meme coin‘s price. This slumping movement comes contrary to the advancements within the DOGE ecosystem.

Additionally, the coin’s futures OI slipped 3.09% to $441.46 million today, whereas the derivatives volume jumped 2.25% to $1.46 billion. Concerning this, current market sentiments for the token remain uncertain.

Also Read: Kamala Harris Beats Donald Trump On Prediction Market Ahead Crypto Meet

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.