Bitcoin's capitulation phase now matches the FTX collapse for duration.
Glassnode's 45-indicator Cycle Position Heatmap has signaled "capitulation" all year. This period now equals the market bottom after FTX.
Our read: The heatmap shows "late in the bear," but it's not the "unanimous deep blue" that marked a definitive floor. With the Fear & Greed index at 27 (Fear), the market still awaits clear accumulation.
Watch 64,549 for strength. Losing 63,452 could extend this capitulation.
$BTC
Glassnode's 45-indicator Cycle Position Heatmap has signaled "capitulation" all year. This period now equals the market bottom after FTX.
Our read: The heatmap shows "late in the bear," but it's not the "unanimous deep blue" that marked a definitive floor. With the Fear & Greed index at 27 (Fear), the market still awaits clear accumulation.
Watch 64,549 for strength. Losing 63,452 could extend this capitulation.
$BTC