Analysis: Bitcoin's Second Capitulation Wave Intensity Is Only Half of February's, Selling Pressure Gradually Exhausting

CoinFeed June 17 news, CryptoQuant analyst Axel Adler Jr. stated that Bitcoin is experiencing its second wave of panic selling this year, but the intensity is far weaker than in February. The current 30-day average profit/loss ratio has dropped to about 0.28, entering the capitulation pressure zone, meaning that in the past few weeks, realized losses have significantly exceeded realized profits. But the key difference is: during the first panic wave in February, the peak realized loss was about $2.6 billion, while the second wave peak in early June was only about $1.4 billion, almost half of February's, and has since fallen back to about $558 million. The comparison of the two peaks indicates that the intensity of this round of panic selling has significantly weakened, meaning that sellers willing to cut losses and exit are decreasing, and the behavior is more characteristic of the late stage of selling.