The amount of BTC supply currently “in profit” has fallen into a multi-year extreme low zone. Some experts refer to this as a “capitulation zone,” suggesting that the bottom may be near, though there is no guarantee that it has already formed at current levels.
According to the Coinbase Premium Index, institutional investors on Coinbase have continued selling aggressively for 90 consecutive days. Meanwhile, the time-tested SOPR indicator suggests that there has not yet been a true “mass capitulation” in BTC involving both short-term and long-term holders, meaning there may still be room for further downside.
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1August 18, 2026 752 1
