Bitcoin Seller Exhaustion? On-chain Data Signals Transition Toward Late-Stage Capitulation
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After bitcoin dropped below $60,000 two weeks ago, Bitfinex analysts say on-chain data signals possible seller exhaustion and a transition into late-stage capitulation rather than broad distribution. The report highlights persistent selling from prior BTC holders such as ETFs and treasury companies but notes a reprieve in macro conditions that could support price recovery and broader crypto adoption.
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Following a wave of selling pressure that pulled bitcoin (BTC) below $60,000 two weeks ago, analysts have highlighted on-chain data that signals possible seller exhaustion, which is further substantiated by a reprieve in macroeconomic conditions.
According to analysts at crypto exchange Bitfinex, the market is witnessing a transition into late-stage capitulation rather than a broader distribution phase. This translates to constant selling pressure among previous buyers of BTC, like exchange-traded funds (ETFs) and treasury companies.
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