'Insane evidence' Bitcoin has capitulated in past 2 months — analysis

‘Insane evidence’ Bitcoin has capitulated in past 2 months — analysis


Bitcoin (BTC) is providing overwhelming evidence that it is capitulating, and it is time to flip bullish as a result, new analysis believes.

In a Twitter thread on Aug. 3, Charles Edwards, CEO of crypto asset manager Capriole, revealed what he called the “The 12 Bitcoin Capitulations.”

“Risk-returns skewed positively” for Bitcoin

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With BTC price action recovering from multi-year lows but still hovering near key bear market support, opinions vary widely as to what will happen next.

Some are demanding a return to levels even lower than June’s $17,600 trough, while others argue that a “bear market relief rally” could take BTC/USD as high as $40,000 first.

For Edwards, the raw evidence suggests that the past months have been bearish enough, and that behind the scenes, Bitcoin has been quietly

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