Is Bitcoin in Danger of Capitulation? - BitcoinEthereumNews.com
Percent Supply in Profit chart by Glassnode On a long-term basis, we see that Supply in Profit has been above the 62.5% level since April 2020 (blue circle). We saw a similar situation during the bull market of 2012-2013, where the 62.5% area also served as support (green circles). During that same year, the Supply in Profit did not fall below the red line, which neared almost two years (22 months), between May 2012 and March 2014. Percent Supply in Profit chart by Glassnode However, the loss of this key support led to a deepened bear market in both 2014 and 2018. Therefore, if the 62.5% level were to be broken in the coming weeks, capitulation in the BTC market could be expected. Potential market capitulation Upon further analysis, the indicator illustrates that the risk of capitulation in the Bitcoin market is still real. This is confirmed by another metric recently presented by a well-known cryptocurrency market analyst, @TheRealPlanC. The Long-Term Holder Capitulation Signal shows periods where the BTC price drop was impacted by sell-offs from long-term holders. Throughout Bitcoins history, this indicator has been below the 0 level four times (red areas), demonstrating a deepening bear market, which served as advantageous opportunities to बिटकॉइन खरीदें. स्रोत: ट्विटर As PlanC