Bitcoin (BTC) has entered what many market analysts describe as a “capitulation zone,” a technical and psychological state where investors sell off assets in a state of high fear, often signaling the final stages of a price decline. As the market experiences heightened volatility, traders and analysts are engaged in a heated debate regarding whether the current price action represents the absolute bottom or if further downside is yet to come.
Key on-chain metrics, such as the Puell Multiple and miner profitability indicators, suggest that the market is currently undergoing significant stress. Historically, these levels have coincided with major market bottoms. However, the presence of institutional sell-offs and the distribution of coins from major entities like the German government and Mt. Gox creditors have added layers of complexity to the recovery timeline.
Some technical analysts argue that the $50,000 to $54,000 range serves as a critical support zone that must hold to prevent a deeper slide into the mid-$40,000s. On the other hand, optimistic traders point to the “Fear and Greed Index” reaching multi-month lows as a classic contrarian signal that a reversal is imminent. While the consensus is that Bitcoin is in a high-value accumulation area, the exact timing of the rebound remains elusive, leaving participants cautious as they navigate the ‘capitulation’ phase.
Source: Bitcoin in ‘capitulation zone’ as traders debate when BTC price will bottom
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