Bitcoin’s current price performance indicates a notable risk concerning a potential decline. As per the prominent crypto analyst Doctor Profit, there is a possibility for Bitcoin ($BTC) to experience a notable pullback to the $90K zone before moving toward exclusive highs. The popular crypto trader and analyst emphasized the month of September in terms of volatility, mostly driven by the impending rate decision of the U.S. Federal Reserve. Keeping this in view, the analyst advised the Bitcoin investors to strategically take profits ahead of a wider correction.

$BTC Could Slump to $90K Before Continuing Bullish Momentum

In line with the analytics presented by Doctor Profit, Bitcoin ($BTC) will slump to $90K ahead of claiming new price highs. At the moment, as the analyst suggests a considerable CME gap is present around the $93K level. Additionally, liquidity is reportedly concentrated between $90K as well as $95K. The respective development also points toward the likelihood of a correction toward the aforementioned zone while trading volumes are lowered.

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Apart from this, the on-chain data reveals that the retail Bitcoin ($BTC) investors reportedly swarmed the market after the $100K mark. Additionally, the institutional wallets increased $BTC accumulation during the June drop within the $98K-$110K range. Based on this, the sentiment is potentially set to reset, enabling a relatively sustainable price rally later this year. However, before that upswing, it is highly likely for Bitcoin to revisit the $90K territory once. At the same time, the FOMC meeting scheduled for September 17, regarding rate cuts, will be crucial and could pave the way for huge corrections, as witnessed in the previous instances.

Analyst Remains Bullish on Bitcoin, Predicting Upsurge to $145K-$150K

Nonetheless, irrespective of predicting a plunge to the $90K mark, Doctor Profit remains bullish on Bitcoin ($BTC) in the long-term perspective. In this respect, Bitcoin ($BTC) is set to approach the $145-$150 range. Even then, in the short term, it is a huge possibility for the flagship crypto asset to revisit the $90K-$95K range. Additionally, the analyst persuades the traders to engage in strategic profit-taking before the anticipated pullback.