# Capitulation İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "Capitulation" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

CleanSpark and Bitcoin miners’ selling spree – Is the miner HODL era ending?

Bitcoin's retreat from its October 2025 peak has triggered a significant shift in miner behavior, with public mining companies accelerating BTC transfers to exchanges. As mining profitability tightens due to a declining hashprice and rising operational costs, miners are increasingly liquidating reserves to maintain cash flow. Since October 2025, publicly listed miners have sold over 15,000 BTC, reducing total miner balances. This trend is exemplified by CleanSpark, which sold nearly all its February production (553 of 568 BTC mined), a stark contrast to its previous retention strategy. This signals a broader industry move away from long-term accumulation toward immediate monetization. Current miner selling patterns resemble late-cycle capitulation phases, though the selling pressure appears more controlled than in previous bear markets. The Miner Position Index remains low, while the Hash Ribbons indicator recently flashed a buy signal, historically preceding market rebounds. However, corporate miners' use of hedging and diversified revenue streams suggests this cycle may feature a more gradual transition rather than violent capitulation.

ambcryptoDün 05:33

CleanSpark and Bitcoin miners’ selling spree – Is the miner HODL era ending?

ambcryptoDün 05:33

Bitcoin Bottom In? This Key Metric Signals BTC May Have Reached Its Floor

A key metric suggests Bitcoin may have reached a local price bottom. Market expert Crypto Tice highlights that the Bitcoin Total Supply in Profit indicator is flashing signals historically associated with the end of selling pressure and structural capitulation. This indicates supply is being absorbed by stronger hands, weak holders have been flushed out, and long-term investors are not selling. Tice describes this as a "once-in-a-cycle entry point," noting that when supply flips from loss-heavy to profit-ready, markets often see explosive upward moves. Meanwhile, data shows negative funding rates, indicating defensive sentiment among futures traders, but a rising Coinbase Premium Gap suggests increased buying from U.S. investors.

bitcoinistDün 00:03

Bitcoin Bottom In? This Key Metric Signals BTC May Have Reached Its Floor

bitcoinistDün 00:03

XRP nears $1.40 as SOPR signals capitulation: Is recovery ahead?

Ripple (XRP) is approaching $1.40 amid increasing selling pressure, as indicated by the Spent Output Profit Ratio (SOPR) falling to 0.96, signaling that investors are realizing losses. This suggests a phase of capitulation, where weaker holders are exiting at a loss. Despite the negative market conditions, the XRP Ledger (XRPL) maintains strong underlying activity, with 1.8–2.5 million daily payments and stable transaction throughput. Active addresses remain steady between 35,000–40,000, indicating consistent user engagement. The current market structure resembles the 2021–2022 cycle, where capitulation and sustained network usage eventually preceded a significant price recovery. A reclaim of SOPR above 1.0 could signal the beginning of market stabilization and a gradual rebound.

ambcryptoDün 16:02

XRP nears $1.40 as SOPR signals capitulation: Is recovery ahead?

ambcryptoDün 16:02

Tom Lee’s Bitmine bets on Ethereum again with fresh 50K ETH buy – Details

Bitmine Immersion Technologies has significantly increased its Ethereum holdings, purchasing an additional 50,928 ETH, bringing its total to 4.47 million ETH—approximately 3.71% of the circulating supply. This aligns with the company's long-term "Alchemy of 5%" strategy, with 68% of its ETH staked, generating an estimated $172 million in annual revenue. Despite Ethereum's negative MVRV ratio indicating short-term holder losses and market fear, sentiment is showing signs of recovery. Separately, F2Pool founder Chun Wang has been moving substantial funds, potentially accumulating ETH and using it as collateral for yield. BMNR stock also saw a 7.48% increase amid these developments.

ambcrypto03/04 06:01

Tom Lee’s Bitmine bets on Ethereum again with fresh 50K ETH buy – Details

ambcrypto03/04 06:01

Beyond Capitulation: Why Bitcoin’s Short-Term Holders Refuse To Blink Amid Iran Escalation

Bitcoin is under pressure as Middle East tensions increase market uncertainty, but a key behavioral shift is emerging. Short-term holders (STHs), who typically amplify volatility by sending coins to exchanges during losses, are not panicking as expected. During a capitulation event in early February, STHs transferred 89,000 BTC at a loss in 24 hours. Since then, loss-driven inflows have declined steadily. Even amid recent Iran-related geopolitical escalation—a classic risk-off trigger—there was no significant spike in STH realized-loss transfers. This suggests that forced selling phase may be exhausting, indicating seller fatigue and potential market stabilization. The key signal ahead is whether STHs continue to restrain from selling, pointing to base-building, or if a new loss-transfer spike renews downside risk.

bitcoinist03/03 04:02

Beyond Capitulation: Why Bitcoin’s Short-Term Holders Refuse To Blink Amid Iran Escalation

bitcoinist03/03 04:02

46% of Bitcoin’s supply is now underwater: Will BTC’s losses keep mounting?

Bitcoin is currently trading at $66,689, down 47% from its all-time high, with approximately 46% of its circulating supply—around 9.09 million BTC—now held at a loss. Both short-term and long-term holders are experiencing significant unrealized losses, totaling around $113.9 billion and $140 billion, respectively. This has increased sell-pressure risks as investors may capitulate to avoid further declines. Institutional holders like MicroStrategy are also underwater, with 67% of its BTC holdings in the red. Technical indicators, including the Relative Vigor Index and Future Grand Trend, suggest continued bearish momentum, with potential downside targets near $59,213 or even $45k if the downtrend persists.

ambcrypto03/02 11:02

46% of Bitcoin’s supply is now underwater: Will BTC’s losses keep mounting?

ambcrypto03/02 11:02

Bitcoin slides below key level after brutal February sell-off: What’s next?

Bitcoin (BTC) ended February with a significant decline of nearly 15%, marking its third-worst February performance on record. The price fell below the critical short-term holder cost basis of $89,900, indicating rising stress among recent investors. Increased realized losses, reaching up to $6 billion during sell-offs, suggest a phase of capitulation. However, long-term holders remain in profit, highlighting that market pressure is concentrated among newer participants. The price closed the month at $66,980 after a sharp late-month drop. Market stability now depends on whether institutional demand and whale accumulation can absorb the expanding distressed supply. Key indicators to watch include exchange netflows and the Coinbase Premium Index.

ambcrypto03/01 11:02

Bitcoin slides below key level after brutal February sell-off: What’s next?

ambcrypto03/01 11:02

Bitcoin volatility hits 2022 high as short-term holders yield – Will $65K hold?

Bitcoin has entered a period of heightened volatility, with its 30-day realized volatility on Binance reaching 0.83, the highest level since 2022. This shift follows a period of relative stability in late 2025. The increased volatility is driven by intense selling pressure from Short-Term Holders, who are realizing significant losses—averaging over $1.26 billion daily, with spikes above $2.4 billion. This selling is reminiscent of the stress seen during the 2022 FTX collapse. As BTC tests the key support zone between $65,000 and $70,000—a dense cost-basis area for recent buyers—the market reflects a struggle between sellers pushing for lower prices and buyers accumulating supply. The elevated volatility is interpreted as a sign of capitulation, potentially leading to seller exhaustion. For stability to return, a drop in volatility below 0.60 and a reduction in loss realization are needed; otherwise, the current range risks becoming a prolonged liquidity trap.

ambcrypto02/28 15:02

Bitcoin volatility hits 2022 high as short-term holders yield – Will $65K hold?

ambcrypto02/28 15:02

Undervalued but structurally weak: Bitcoin’s current cycle paradox

Bitcoin has experienced significant volatility, recently falling to $66k after briefly touching $70k. Analysts attribute the ongoing pressure not to recent events but to a cyclical reset beginning in October. Key on-chain metrics present a paradox: the MVRV Z-score indicates Bitcoin is deeply undervalued, reaching historic lows, while the NUPL metric remains in the "hope" zone, suggesting a true market bottom, marked by a drop below zero, has not yet occurred. Furthermore, long-term holders, though still in profit on average, face pressure. This combination of statistical undervaluation and weak market structure suggests a risk of further decline toward $60k, with the potential for a full capitulation event still months away.

ambcrypto02/28 01:01

Undervalued but structurally weak: Bitcoin’s current cycle paradox

ambcrypto02/28 01:01

Ethereum – Why derivatives data is hinting at potential shift after February’s capitulation

Ethereum experienced a sharp correction in February, with its price dropping below $2,000—a decline of over 50% from cycle highs. This was driven by forced selling, high realized volatility, and significant net taker volume plunging to extreme negative levels, indicating panic selling and liquidations. However, derivatives data suggests a potential shift as the Binance Taker Buy/Sell Ratio approaches equilibrium near 1.0, signaling a possible return of buyer dominance after months of sell-side pressure. Recent recovery above $2,000 has strengthened momentum, with key resistance near $2,100–$2,200. If buyers sustain current levels, further recovery is likely; otherwise, downside risk toward $1,900 may reemerge.

ambcrypto02/27 15:02

Ethereum – Why derivatives data is hinting at potential shift after February’s capitulation

ambcrypto02/27 15:02

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