Bitcoin has returned to $69,000 after a sharp downward revaluation. Positioning remains defensive in the spot market, derivatives, and on-chain metrics. Further recovery will depend on the emergence of new spot demand. $BTC
At a time of increased volatility, capitulation indicators indicate a saving squeeze: the current unrealized Bitcoin spending has increased to 24%.
This level moves beyond the typical zones of transition between the whip and the other markets, but is lost to the lower ones beyond historical extremes.
Thus, the market is in the active phase of capitulation, but the remaining bottom has not yet been confirmed.
👉 Bitcoin is currently trading around $69,300, and large sums from 10-100 BTC continue to actively buy at low prices. $BTC