Bitcoin market enters full capitulation as price dips below $63K

💡 DMK Insight

Panic selling among short-term holders is a red flag for BTC, and here’s why: With BTC currently at $63,188.00 and the RSI nearing record lows, we might be on the brink of capitulation. This behavior often signals a market bottom, but it can also lead to increased volatility in the short term. If this selling pressure continues, we could see BTC testing support levels around $60,000. Traders should be cautious, as a breach below this level could trigger further sell-offs, especially among retail investors who might panic further. On the flip side, if BTC manages to hold above $60,000, it could set the stage for a rebound, especially if we see a shift in sentiment or a reversal in RSI. Keep an eye on volume trends; a spike in buying volume could indicate that the capitulation phase is ending. Watch for any news or macroeconomic indicators that could influence market sentiment in the coming days, as these could provide critical context for BTC’s next move.