Is This the Cycle Bottom? Short-Term Holders Capitulated as BTC Hit $80K

Bitcoin (BTC) is testing the $80,000 support level, a price point not seen in six months, following a steep 36% drop from its October all-time high.

This downturn has triggered a massive wave of capitulation from short-term investors, a potential sign that a local bottom is forming, even as long-term holders begin to distribute their BTC at a historic rate.