Bitcoin struggled around $83,000 on Monday after falling 2.2% over the past 24 hours. The decline came as fresh uncertainty around Middle East diplomacy weighed on market sentiment.
Weakening momentum and bearish divergences point toward a possible short-term correction before recovery.
The Road Ahead
In the latest report, Doctor Profit said that his earlier $88,000 target has effectively been reached after Bitcoin climbed from around $60,000 to $87,300.
He has now predicted that the crypto asset could pull back toward $79,000, around the 50-week moving average, before continuing higher. Doctor Profit flagged bearish divergences in RSI, MACD/PPO and MFI, along with weaker trend strength in ADX, as signs of a near-term correction. However, he maintained,
“I consider Bitcoin to be in a BULL MARKET, but I expect a correction WITHIN that bull market.. At $79K, I want to see whether the MA50 Weekly holds as support.”
Meanwhile, Ali Martinez said that Bitcoin is retesting the $82,000 level after breaking out of a double-bottom pattern, a level that could now act as support. If the crypto asset manages to hold above it, the retest could set the stage for another rally. Martinez expects it to rally toward $100,000 if the setup plays out.
Bitcoin whales have also been quietly accumulating. Wallets holding 100 to 1,000 BTC have scooped up nearly 114,000 coins since July 15.
Big Money Stays In
Things are looking pretty solid on the institutional side, as US-based Bitcoin ETFs continued to see strong demand last week. The biggest move came on Monday, when investors poured almost $1 billion into the funds in a single day. Inflows cooled off after that, but stayed positive throughout the week. By Friday, spot Bitcoin ETFs had pulled in a total of $2.39 billion for the week, which ultimately pushed their cumulative total net inflows to $57.55 billion.
The steady demand also fits with what Bitwise found in its survey of institutional investors. The firm surveyed 15 institutions and found that none reduced their crypto allocation during the sharp market turmoil between Q4 2025 and Q2 2026. Most hold between 1% and 2% of their investable assets in crypto.
Strategy is also back to buying Bitcoin in a big way. The company added another 1,665 BTC last week at an average price of $85,681. That takes its total holdings to 847,666 BTC, which is worth more than $70 billion at current prices.
The post Bitcoin’s (BTC) Still in a Bull Market, But a Correction Could Be Coming First appeared first on CryptoPotato.
Source: https://cryptopotato.com/bitcoins-btc-still-in-a-bull-market-but-a-correction-could-be-coming-first/
