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Home›Crypto›Market Structure›Bitcoin holder capitulation hits $280M per day, analys…

Bitcoin holder capitulation hits $280M per day, analysts cite a possible bottom

Glassnode data cited by The Block shows the capitulation peak at about $280 million per day, the highest level since December 2022.

Reported · Written up by our desk · Market Structure

Bitcoin long-term holder capitulation has reached about $280 million per day, the highest since December 2022, according to data cited by The Block.

The Block reports that Glassnode views the move as a signal that a bottom may be forming in what analysts describe as a late stage bear market.

Latest closeBitcoin $63,409.10 ▼0.7%

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Sources

The Block‘Bottom building in progress’: Analysts say bitcoin holder capitulation signals late-stage bear market

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