Bitcoin’s powerful weekly rally has pushed one well-known analyst to declare that the bear market is over. The pseudonymous trader and analyst Doctor Profit said Bitcoin has entered what he calls a “Soft Bull Market” after breaking above several important resistance levels. His latest report focuses on two key price zones: $71,000, which he views as extremely strong support, and $78,500, which he identifies as the next major resistance. Everything between those two levels, he said, is “noise.”
Doctor Profit had previously shifted his expectations from a Bitcoin bottom near $40,000 to a bottom around $54,000. He accumulated BTC in the $54,000–$64,000 range and also built a large Ethereum position, expecting ETH to outperform Bitcoin this cycle. In his view, a retest of $71,000 is possible but not very likely, and that level is the lowest meaningful region Bitcoin could revisit before moving higher. A breakout above $78,500, he added, opens a path toward approximately $82,000, and a strong break above that level would turn the Soft Bull Market into a full bull market escalation.
The analyst pointed to Bitcoin’s reaction around $60,000 as evidence that serious capital is waiting to enter the market. “Bulls showed that they are ready to deploy size when fear appears, while everyone waiting for $50K, $40K or some magical four-year-cycle bottom was left watching the market move without them,” Doctor Profit wrote. He added that he doubts the market will give another clean opportunity below $71,000.
On momentum, Doctor Profit said the weekly and monthly RSI remain in neutral territory, while the daily RSI is relevant mainly for short-term moves and is not a major risk at current prices. He argued that much of the latest move was driven by shorts being forced to close, meaning “bears became buyers against their will,” rather than an overload of new leveraged longs or massive spot purchases. He compared the situation to 2023, when Bitcoin climbed from about $16,000 to $25,000, corrected roughly 22% toward $19,000, and then surged almost 60% to $30,000. The pattern, he explained, is less about the exact price path and more about recurring psychology: fear, disbelief, short squeezes, corrections, panic, capitulation, and eventual expansion.
Another analyst, Ali Martinez, also highlighted Bitcoin’s latest weekly surge as a possible early sign of a new bull market. He noted similar strong weekly gains of about 32% in 2019 and 25% in January 2023 after the FTX collapse, both during deeply bearish sentiment. Martinez said a similar setup is now appearing, even as many traders had expected a market bottom in October based on the four-year-cycle theory.
