With Bitcoin’s price holding on, is its capitulation still ‘incomplete?’
Bitcoin's price has declined from its six-figure highs, entering a corrective phase but stopping short of full capitulation. It remains about 18% above the key on-chain realized price of $55,000, a level not yet breached as it typically deeper bear market washouts. Metrics like NUPL and MVRV have cooled but haven't reached the negative extremes seen in past bottoms, indicating that panic selling has not occurred. The correction is characterized by weakening capital absorption, slowing ETF and institutional inflows, and profit-taking rather than a structural market breakdown. While short-term holder selling has increased, signs of dip-buying and stable long-term holder base suggest the market is consolidating. Recovery is contingent on renewed capital inflows, ETF demand, and macro liquidity conditions.
ambcrypto2 gün önce 15:02