- Analyst Darkfost said Bitcoin’s correction has exceeded the 237-day pullback recorded in 2024, setting a cycle record.
- Doctor Profit maintains multiple short positions and expects further downside if Bitcoin loses major support levels.
- Traders are closely watching ISM, ADP, and Nonfarm Payrolls data for clues on market direction and Fed policy.
Bitcoin entered a new record high on June 1 as the current market correction surpassed the 237-day pullback recorded in 2024, according to analyst Darkfost. Meanwhile, analyst Doctor Profit maintained his bearish outlook, keeping multiple short positions open while pointing to upcoming economic data and a potential break below key support levels as major market events to watch.
Analysts Focus On Extended Correction
According to Darkfost, Bitcoin has now entered the longest correction of the current cycle. However, he noted the duration remains shorter than corrections seen during previous bear markets.
Darkfost highlighted that new all-time highs arrived 1,180 days after the 2015 bear market. Meanwhile, the recovery took 1,094 days after 2019 and 849 days after 2023. He also pointed to a historical pattern involving Bitcoin halvings.
Previous cycles reached new all-time highs after halving events. However, the current cycle differed from that trend. Bitcoin reached a new record high before the April 2024 halving. Looking ahead, Darkfost noted the next halving is expected around April 2028, roughly 670 days away.
Doctor Profit Maintains Bearish Strategy
While attention remains on correction length, Doctor Profit said his trading plan remains unchanged. According to the analyst, short positions opened between $115,000 and $125,000 remain active.
#Bitcoin – What's Next?
The Big Sunday Report: All We Need to Know
🚩TA / LCA / Psychological Breakdown:
Last week in the Sunday report that was shared in Premium only, mentioned that 50% of the short position was filled with an average entry of 80,500 in the 79-82k batch,… pic.twitter.com/pgiBmxVcbH— Doctor Profit 🇨🇭 (@DrProfitCrypto) May 31, 2026
Additionally, he said a short position averaging $80,500 remains open. He also continues to keep unfilled short orders between $83,000 and $85,000.
Doctor Profit stated that he does not intend to add new bearish positions below $80,000. Instead, he described the $80,000 to $85,000 range as his preferred area for additional entries.
The analyst also said his previously opened $71,000 long position was fully closed last week with profits realized.
Economic Data Remains In Focus
As traders monitor price levels, Doctor Profit outlined several economic releases scheduled this week. The calendar includes ISM Manufacturing PMI on June 2, ADP Employment data on June 4, and Nonfarm Payrolls on June 6.
According to the analyst, weaker employment figures combined with persistent inflation could complicate Federal Reserve policy decisions. Doctor Profit also reiterated his broader market framework.
He said Bitcoin remains in Stage 4 of his six-stage bear market model. According to his outlook, Stage 5 would begin if Bitcoin breaks below $60,000, while his projected bottom range remains between $40,000 and $50,000.
