Bitcoin (BTC) fell below the $ 80,000 threshold after failing to maintain the upward momentum built earlier during the day.
Based on Cryptoslate data, Bitcoin was negotiated at $ 77,400 from press time, down 5.84% in the last 24 hours.
The data on the chain indicate that recent buyers achieving losses have contributed to the slowdown, although the market structure remains ready for a potential recovery, according to the last “Bitfinex Alpha report.
BTC has dropped by 13% in the last seven days, and the production ratio (SOPR), a key indicator of investors’ profitability, strengthens capitulation by entering its first period of losses sustained since October 2024.
Capitulation phase
SOPR measures if Bitcoin investors sell for a profit or loss. A sustained drop below 1, a neutral area, indicates that a large part of the market is to liquidate the positions at a loss.
Over the past two weeks, losses made daily have reached an average of $ 818 million on February 28 and March 4 recording the biggest losses of this cycle. The only loss made in one day in a single day occurred on August 5, 2024, in the middle of the Yen-Carry hike, which experienced $ 1.34 billion in losses made.
The short -term holder (STH) SOPR, which follows the new market entrants, recorded its second negative print on this cycle at 0.95, indicating that recent buyers lock substantial losses.
Deep negative impressions in STH SOPR have historically marked capitulation events, where panic is lowering lower hands and creates accumulation opportunities for stronger investors.
In addition, a sopr decline less than 1 indicates a sale focused on losses, reflecting major corrections in past cycles. However, rapid recovery of this level generally suggest that buyers defend the basic levels of costs, strengthening bullish trends.
The extent of losses made indicates that many short -term holders have left their positions below the basis of the cost, succumbing to withdrawal pressures.
Uncertain result
Historically, such capitulation events precede the stabilization of the market, while the lower hands come out and the stronger hands begin to accumulate.
The report noted that if the structure of the bitcoin bull market remains intact, SOPR should stabilize above 1, signaling the reactuction and renewed the confidence of investors. However, prolonged weakness at negative levels close to 1 could suggest other risks downwards, making sopr a key metric to observe in the short term.
In addition, Bitfinex analysts have stressed that macroeconomic and geopolitical uncertainties continue to be a major factor in the conduct of market movements. They added that monitoring the absorption of purchase and the flow negotiated on the stock market (ETF) remains critical during the coming week.
Bitcoin market data
At the time of the press 7:05 p.m. UTC on March 10, 2025,, Bitcoin is classified n ° 1 by market capitalization and the price is down 5.99% In the past 24 hours. Bitcoin has a market capitalization of 1.54 dollars billion with a 24 -hour trading volume of $ 53.31 billion. Learn more about Bitcoin ›
Summary of the cryptography market
At the time of the press 7:05 p.m. UTC on March 10, 2025The total crypto market is assessed at $ 2.53 with a volume of 24 hours of 130.79 billion dollars. Bitcoin domination is currently at 60.89%. Learn more about the cryptography market ›
