Bitcoin may be forming a local bottom around $80,000, with the $79,000 to $81,000 range emerging as a major accumulation zone. According to analyst Doctor Profit, the decline from $88,000 represents a correction within a broader bull market rather than the start of a new bear market. Bitcoin treasury companies and spot ETF investors have average entry prices of $80,000 to $81,500, which could reduce selling pressure and support market stability. The analyst sees a potential move toward $94,000 if a daily close above the 50-day exponential moving average confirms a recovery, while retail inflows to Binance reached $10.75 billion and whale deposits declined.
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