Seller capitulation returns, confirming a bottom signal
Glassnode detected concentrated selling by investors at a loss during yesterday’s sharp BTC drop, triggering the seller capitulation indicator for the fourth time. The same pattern appeared in early August, mid-August, and mid-September, and each time was followed by a local bottom. Profit-taking has slowed noticeably since the September high.
Loss-making holders were flushed out above 80,000, with coins changing hands at lower cost bases. Overhead supply from trapped holders has thinned, naturally easing selling pressure. The short-term outlook favors a rebound and recovery: first, look for a retracement of yesterday’s sharp drop, and if prices hold steady, they may retest the previous high. If 80,000 fails to hold, leveraged longs face a cluster of liquidation levels that could trigger another wave of forced selling, so stop-losses should be placed below that level. High-beta names like ETH and SOL tend to rebound more sharply after falling, so watch whether their trading volume picks up.
For those of you holding BTC, is your cost basis above or below 80,000—and would you dare to add here?
$BTC $ETH $SOL
Glassnode detected concentrated selling by investors at a loss during yesterday’s sharp BTC drop, triggering the seller capitulation indicator for the fourth time. The same pattern appeared in early August, mid-August, and mid-September, and each time was followed by a local bottom. Profit-taking has slowed noticeably since the September high.
Loss-making holders were flushed out above 80,000, with coins changing hands at lower cost bases. Overhead supply from trapped holders has thinned, naturally easing selling pressure. The short-term outlook favors a rebound and recovery: first, look for a retracement of yesterday’s sharp drop, and if prices hold steady, they may retest the previous high. If 80,000 fails to hold, leveraged longs face a cluster of liquidation levels that could trigger another wave of forced selling, so stop-losses should be placed below that level. High-beta names like ETH and SOL tend to rebound more sharply after falling, so watch whether their trading volume picks up.
For those of you holding BTC, is your cost basis above or below 80,000—and would you dare to add here?
$BTC $ETH $SOL