CryptoQuant: "Blockchain Data Warns: It's Still Too Early to Call a True Bitcoin Bottom! Here's Why..."

cryptonews.ruPublicado em 2026-07-31Última atualização em 2026-07-31

Resumo

Despite recent price fluctuations in Bitcoin, blockchain data from CryptoQuant suggests the market has not yet reached a classic capitulation phase. According to analyst Julio Moreno, there is no clear sell signal, and Bitcoin has not entered a full-scale capitulation, indicating this is either a minor correction or could lead to further declines. Moreno notes that Bitcoin holders have only recently begun realizing annual losses, currently around 136,000 BTC. Historical cycles, however, saw realized losses bottom at between 1.3 million and 3.7 million BTC. This cycle could become known for the mildest loss phase in Bitcoin's history, or losses could still increase significantly from current levels. Two scenarios are outlined: the current cycle could be the one with the fewest stop-loss sales in Bitcoin's history, or the market could face further selling pressure as it has not yet found its true bottom. Moreno concludes that sell-offs on a scale characteristic of capitulation have not yet been observed, and it is too early to consider current price levels as the definitive cycle bottom.

Despite recent price fluctuations of the leading cryptocurrency Bitcoin, blockchain data indicates that the market has not yet reached the classic capitulation phase.

Julio Moreno, head of research at CryptoQuant, stated in his assessment that there is still no clear signal to sell Bitcoin, and that it has not yet entered a full capitulation phase.

According to Moreno, this suggests that $BTC and the market are either in a minor correction or could face further decline.

The analyst also noted that $BTC holders have only recently started realizing their annual losses, which currently amount to about 136,000 $BTC.

Referencing previous cycles, the analyst added that Bitcoin's annual realized losses hit a bottom when they reached between 1.3 and 3.7 million $BTC.

Moreno added that this cycle could go down in history as the mildest loss phase in Bitcoin's history, but losses could also increase significantly and surpass current levels.

In the analyst's view, the current situation points to two different scenarios. In the first scenario, the current market cycle could become the cycle with the least amount of stop-loss selling on-chain in Bitcoin's entire history. In the second scenario, the market could face further selling pressure as it has not yet reached its true bottom.

In conclusion, Moreno emphasized that selling waves on a scale that could be characterized as capitulation have not been observed yet, and it is still too early to consider current price levels as the final cycle bottom.

*This is not investment advice.

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Perguntas relacionadas

QWhat is the main argument of the CryptoQuant analysis regarding the Bitcoin market?

AThe main argument is that blockchain data suggests the market has not yet reached the classic capitulation phase. There is no clear sell signal for Bitcoin, and a full-scale surrender event hasn't been observed, indicating it might be too early to call the current price levels the true bottom of the cycle.

QAccording to Julio Moreno, what are the two possible scenarios for the current Bitcoin cycle?

AThe first scenario is that the current market cycle becomes the one with the smallest amount of stop-loss selling in Bitcoin's history. The second scenario is that the market could face further selling pressure because it has not yet reached its true bottom.

QWhat is the current level of annual realized losses for Bitcoin, and how does it compare to previous cycles?

ABitcoin holders have recently started realizing annual losses of about 136,000 BTC. In previous cycles, the realized annual losses for Bitcoin bottomed between 1.3 million and 3.7 million BTC, making the current level relatively low.

QWhat does the article imply about the recent price fluctuations of Bitcoin?

AThe article implies that despite recent price fluctuations, the market may not be in a state of capitulation. It suggests the current situation could be a minor correction or potentially lead to a further price decline, as the market has not definitively bottomed.

QWhat final warning or disclaimer is provided at the end of the article?

AThe article concludes with the disclaimer: 'This is not investment advice.'

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