‘Intense Capitulation’ Hits Crypto as 8M BTC, Bulk of ETH Supply Sit at Loss

Bitcoin experienced significant selling pressure this week, with approximately 8 million BTC, representing a substantial portion of the total supply, currently trading at a loss. This "intense capitulation" event, as described by market analysts, suggests a "scale of market reset" is underway, indicating that many investors have sold their holdings below their purchase price. The majority of Ether (ETH) supply is also sitting at a loss, mirroring the broader market downturn. Despite the current bearish sentiment and the large number of "underwater" positions, some market observers believe that long-term investment opportunities may still emerge from this period of significant price correction. The current market conditions are characterized by a broad decline across major cryptocurrencies, impacting both retail and institutional investors.