Bitcoin, currently priced at $64,034.99, may face a significant downturn to $54,000, according to pseudonymous trader Doctor Profit. The trader, known for accurately predicting Bitcoin's previous market peak, cites the formation of a 'bear flag' pattern on the daily chart as a key indicator of potential decline. This pattern suggests a sharp drop followed by a relief bounce, with further declines expected if the price breaks below the flag's lower boundary. Doctor Profit anticipates an initial drop to the $54,000-$56,000 range, with potential further declines to between $40,000 and $50,000.