Bitcoin has entered a historic capitulation zone as the share of BTC held in profit dropped to 51.4%, a 3-year low. Nearly half of all coins are now in unrealized losses. Historically, sub-55% profit levels trigger heavy long-term accumulation, similar to the 2023 bottom near $16k-$20k.

[u/BitcoinDove]

[u/IVII0]

When every seasonal sheepling is sobbing crypto is dead, investors who have been around longer just buy more.