Trader Closes Bitcoin Short Near $120k, Shifts to DCA BTC and ETH

Doctor Profit exits Bitcoin short near $120k while maintaining stock shorts. He initiates DCA for BTC and ETH, viewing current correction as AI-sector specific rather than broad crypto sell-off.

Woofun AI reports that trader Doctor Profit closed his Bitcoin short position near $120,000 on July 18th to take profits, while retaining short positions in equities. He has begun dollar-cost averaging into BTC and ETH, asserting that the current market correction is primarily concentrated in the AI sector rather than representing a broad-based sell-off of major cryptocurrencies.

Doctor Profit disclosed significant unrealized gains from shorting MicroStrategy (-64.8%), Coinbase (-51.8%), SanDisk (-49.4%), Palantir (-40.6%), Netflix (-34.3%), IBM (-32.2%), Microsoft (-28.2%), and NVIDIA (-8.6%). Conversely, Apple (+26.2%) and the S&P 500 (+4%) remain unfavorable. He noted that the Coinbase short serves as a hedge for a recent long investment and plans to unwind it gradually over the coming weeks.