Bitcoin Drops to $84,753 as Doctor Profit Targets $79,000 Short
Bitcoin (BTC)
Editor:
Eugene Serbin
Lookonchain.com reports that prominent trader Doctor Profit has initiated a short position in Bitcoin at $86,200. He is adding to these short positions in the $86,500 to $89,500 range to build a swing short. His primary target remains $79,000, at which point he will decide whether to take profits or hold based on price action.
Profit identifies the deepest correction range as $69,000 to $71,000, noting he does not expect prices to drop lower than that. While his initial short is working, he plans to monitor support near $79,000 to determine if Bitcoin will fall further or reverse. Other market activity includes a dormant Bitcoin address holding 801 BTC reactivating after 13 years.
Yi Lihua remains bearish, suggesting a break below $82,000 could test $71,000 support. Additionally, meme coin SI surged over 22% as Elon Musk suggested replacing the term AI with SI. A trader also profited $448K by monitoring Binance listings, while a $PEPE whale moved 2.1 trillion tokens to a new address.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 4 October 2026. Not the outlet's figures.
Bitcoin is currently trading at $84,753.56, showing a mixed immediate sentiment with a 1-hour buy ratio of 42.9% compared to a 4-hour ratio of 47.6%. The 24-hour buy ratio sits at 50.5%, indicating that buying pressure has stabilized over the longer timeframe compared to the recent hour. Volume delta shows a net outflow of -$4,094,298 in the last hour and -$3,458,784 over four hours, suggesting sellers are currently dominating short-term flow. However, the 24-hour volume delta is positive at +$5,811,125, with cumulative delta closing at +$1,003,045. This divergence implies that while immediate selling pressure exists, the daily trend still reflects net buying activity. Spot volume for the period reached $583,778,209 across 668,698 trades.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 47.9%, with the latest day showing a slight increase of 2.6 points above that average. This suggests that today's buying activity is marginally stronger than the weekly norm, though volume remains subdued at 0.43 times the average. The weekly volume delta totals -$507,927,156, contrasting with the positive daily delta seen today. Only one day out of seven recorded net buying, indicating that this is an unusual day for accumulation relative to the recent trend. The price change over eight days was minimal at +0.4%, reflecting a generally stagnant market structure.