CryptoQuant founder warns of newbie capitulation as Coinbase volume dominance climbs

Every bear market has a final act, and according to Ki Young Ju, it looks a lot like panic selling from the least experienced participants in the room. The CryptoQuant founder and CEO posted on August 25 that newbie capitulation is the last step of every bear market, a statement that landed against a backdrop of rising Coinbase volume dominance and a Bitcoin price quietly clawing its way back from recent lows. Bitcoin had been trading between $60K and $64K in mid-August 2026, recovering from a low of around $57.7K earlier in the cycle. What Coinbase dominance is actually telling us Coinbase’s share of spot trading volume recently crossed 30%, a notable jump that Ju connected directly to the capitulation dynamic he described. The Coinbase premium, the difference between the price on Coinbase versus other global exchanges, remained negative during this period. That combination tells an interesting story. A rising volume share with a negative premium means more trading is happening on Coinbase, but buyers are not yet willing to pay up for the privilege. The volume surge without price enthusiasm is a classic fingerprint of capitulation rather than accumulation. Ju’s framing here is wor...