Bitcoin has posted $2.3 billion in realized losses in what an analyst says is one of the largest capitulation events in history, rivaling its crash in 2021.
Bitcoin’s ($BTC) seven-day average realized net losses hit $2.3 billion, analyst IT Tech said in a note on CryptoQuant on Thursday, which it called “one of the largest capitulation events in $BTC history, rivaling the 2021 crash, 2022 Luna/FTX collapse, and mid-2024 correction.”
“This puts us in the top 3-5 loss events ever recorded,” IT Tech added. “Only a handful of moments in Bitcoin's history have seen this level of capitulation.”
Bitcoin has dropped nearly 50% from its all-time high of over $126,000 in October to trade around $66,600, having climbed from a low of of $60,000 on Feb. 6.
$ASTER delivered a clean bullish move, perfectly respecting the planned structure and rewarding patience with a flawless run through every target. Precision + patience = real profit.
$ASTER/USDT Trade Recap
Position: LONG
Leverage: 50x
◎ Entry Target: 0.6439
Take-Profit Targets:
0.6532
0.6620
0.6713
0.6822
0.6913
Stop-Loss: 0.6403
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Overall, my brother, the downward trend is stronger if we stay below 0.00000374. If there is strong liquidation and the price moves above it with confirmation, only then might we change our outlook and become bullish.
If there is a false break below 0.00000346 with bullish reversal candles, this is an excellent buying opportunity. The first target is 0.00000374 and the second is 0.00000386.
The stop loss should always be below the last clear low if you're entering a buy, or above the last high if you're entering a sell.
This analysis is for educational purposes only, not investment advice. Focus on confirmations and don't rush into a trade; the market always provides opportunities if you are patient. Good luck, champion!
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