Ethereum, Circle, Coinbase Lead Doctor Profit's Bull Market Portfolio

Analyst Doctor Profit has identified Ethereum (CRYPTO: ETH), Circle (NYSE: CRCL), and Coinbase (NASDAQ: COIN) as his top holdings going into a potential bull market.

He presented his weekly Bitcoin (CRYPTO: BTC) report on X, using a simple two-number framework to guide his analysis. According to Doctor Profit, $71,000 is the key support floor, while $78,500 represents the next major resistance level. Anything in between these figures is considered 'noise', and a clean break above $78,500 could set off a bull market escalation.

Doctor Profit disputed the notion that Bitcoin's RSI reading was overbought, pointing out that weekly and monthly RSI readings remain in neutral territory. He attributed the daily RSI's appearance of being overheated to 'forced short covering' rather than genuine buying pressure.

The analyst's views on Ethereum are particularly noteworthy: he currently holds 60% ETH to 40% BTC, marking a significant departure from his previous cycles. Since entering these positions, Bitcoin has risen by 26%, while Ethereum has increased by 33%. Circle and Coinbase have also seen notable gains of 50% and 15%, respectively.

Doctor Profit highlighted the unique value proposition offered by each asset: Circle issues USDC (CRYPTO: USDC), Coinbase provides a regulated on-ramp, and Ethereum serves as the underlying settlement layer for both. His reasoning goes beyond short-term price movements, reflecting a deeper understanding of the market's long-term dynamics.