Bitcoin Capitulation Pressure Nearly Halves as Spot Liquidity Turns Supportive

When Bitcoin prices fall, investors who sell their holdings below cost incur “realized losses,” a measure commonly used to gauge capitulation in the market. Blockchain analytics firm Glassnode said spot-market liquidity had turned supportive, indicating that selling pressure was easing and offering a potential signal that the market may be nearing a bottom.

Glassnode data showed that realized Bitcoin losses totaled $1.4 billion during the June decline, down $1.2 billion, or about 46%, from $2.6 billion in February. That brought capitulation pressure close to half its previous level. Over the same period, buy-side liquidity on Binance strengthened near $60,000, absorbing sell orders and showing signs of slowing the wave of loss-making sales.