Crypto: Three Signs That Bitcoin Price Could Be Near ‘full Capitulation’

Panic selling by short-term holders, extreme fear, and oversold RSI suggested that BTC could be nearing the final phase of capitulation.

Bitcoin (BTC) sellers resumed their activity on Thursday as the BTC price dropped below $69,000, the lowest since Nov. 6, 2024.

Analysts said that Bitcoin showed signs of “full capitulation” and a potential bottom forming, due to extreme market fear, panic selling by short-term holders and the relative strength index (RSI).

Short-term Bitcoin holders have sold nearly 60,000 BTC in 24 hours.

The Crypto Fear & Greed index shows “extreme fear,” signaling a potential bottom.

Bitcoin’s “most oversold” RSI points to seller exhaustion.

Nearly 60,000 BTC, worth about $4.2 billion at current rates, held by short-term holders (STHs), or investors who have held the asset for less than 155 days, were moved to exchanges at a loss over the last 24 hours, according to data from CryptoQuant.

This was the largest exchange inflow year-to-date, which is contributing to selling pressure.

“The correction is so severe that no BTC in profit is being moved by LTHs,” CryptoQuant analyst Darkfost said in a post on X, adding:

When analyzing the volume of coins spent at a loss, Glassnode found that the 7-day SMA of realized losses has risen above $1.26 billion per day.

Source: CoinTelegraph