The cryptocurrency market is currently enduring one of the most significant capitulation events in its history. On February 13, data revealed a staggering $2.3 billion in realized losses within a single week, a metric rarely seen outside of major market crashes. Investors are navigating a "Fear, Uncertainty, and Doubt" (FUD) phase, driven by a correlated downturn in traditional equity markets and a shift toward "risk-off" assets. Bitcoin has retreated nearly 50% from its October all-time high, while altcoins face even steeper declines. Analysts suggest that this phase, characterized by forced liquidations and "extreme fear," is a necessary clearing of excessive leverage. While painful, such periods historically lead to a more sustainable market structure once the weak hands are flushed out and long-term accumulation begins.

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