Bitcoin’s decline from $124K to $67K has created strong market fear, mainly driven by short-term holders rushing to sell at a loss. This reflects classic capitulation behavior, where emotional reactions dominate price action. However, long-term holders remain largely unfazed, with very limited loss-taking compared to previous bear markets. Unlike 2022, when sustained selling pressure came from all sides, the current pullback appears more concentrated among short-term participants. The chart shows a sharp correction following a powerful rally to new highs, supported by increased volume during the drop. Despite the volatility, the broader multi-year trend remains intact, suggesting consolidation rather than structural breakdown$BTC $BTC