Bitcoin price-metric basket sees longest capitulation since FTX blow-up: Glassnode

Bitcoin price-metric basket sees longest capitulation since FTX blow-up: GlassnodeBitcoin (BTC) is seeing its longest capitulation since the end of the 2022 bear market, onchain analytics platform Glassnode reported on Monday.Key points:45 Bitcoin price metrics tracked by Glassnode are in their longest “capitulation” phase since the collapse of FTX in late 2022.Aggregate readings still have to turn colder to match areas that marked previous bear-market bottoms, says creator Rafael Schultze-Kraft.45 Bitcoin price metrics spend 2026 in “capitulation” zoneGlassnode’s Bitcoin Cycle Position Heatmap, a composite BTC price metric overview tool, has signaled capitulation throughout 2026. The tool, created by the platform’s co-founder, Rafael Schultze-Kraft, combines data from 45 indicators to present an overall picture of market health as Bitcoin price cycles repeat. A majority blue heatmap indicates a period of “capitulation” within the cycle, with red pointing to the euphoria characteristic of momentum toward cycle peaks.After a euphoric phase in November 2021, the heatmap flipped to blue for the majority of 2022. In November that year, cryptocurrency exchange FTX collapsed, an event th...