Bitcoin capitulation is underway as over 30,000 BTC (~$3.39B) were moved to exchanges at a loss, signaling short-term holder selloffs and whale de-risking that have driven SOPR below 1 and pushed price toward short‑term realized support.
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Over 30,000 BTC moved to exchanges at a loss, indicating active capitulation.
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Short-term holder SOPR fell below 1; new whales lost $184.6M while older whales lost $26.3M.
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Bitcoin trading near the short-term realized price — a key support zone historically linked to stabilization.
Bitcoin capitulation: 30,000+ BTC sold at a loss as SOPR dips below 1; read analyst breakdown and what to watch next. Read COINOTAG for updates.
Over 30,000 Bitcoin worth roughly $3.39 billion were transferred to exchanges at a loss, reflecting sharp capitulation among short-term holders and coordinated de-risking by whales, according to CryptoQuant data analyzed by COINOTAG.
- Short-term holder SOPR dropped below 1, showing many investors are selling Bitcoin at a loss, per CryptoQuant.
- New whale cohorts realized $184.6M in losses; older whales added $26.3M, signaling broad de-risking.
- Bitcoin traded between $105K and $121K since July and is now near the short-term realized price, a critical support level.
More than 30,000 Bitcoin — about $3.39 billion at a mid-range $113,000 per coin — were moved to exchanges at a loss, per on‑chain analytics provider CryptoQuant. This volume of transfers to exchanges at negative profit indicates pronounced capitulation among participants who bought during the recent rally peak.
Bitcoin is trading close to its short-term holder realized price, an on‑chain metric that has frequently provided support during volatile corrections. Market attention is now focused on whether that level holds or gives way, which would determine the next phase of selling or stabilization.
What does SOPR below 1 mean for Bitcoin?
SOPR below 1 means sellers are realizing losses, not profits. The Spent Output Profit Ratio (SOPR) tracks whether coins moved on-chain are sold for gain or loss. A sustained dip under 1 typically accompanies capitulation and heightens short-term selling pressure.
How severe are short-term holder losses?
Short-term holders are experiencing steep realized losses. CryptoQuant reports SOPR has dropped sharply below 1 while the STH MVRV sits near breakeven, indicating many recent buyers are capitulating. This mismatch suggests sellers who entered near the peak are exiting at a loss, amplifying volatility.
Why are whales adding to selling pressure?
Whale cohorts show broad de-risking. CryptoQuant data attributes approximately $184.6 million in realized losses to newer whale cohorts and $26.3 million to older whales. When large holders reduce positions while short-term holders capitulate, liquidity on exchanges increases and downward price pressure intensifies.
How has Bitcoin price behaved since July?
Since mid‑July, Bitcoin oscillated between roughly $105,000 and $121,000. The market touched highs above $120,000 in July, corrected toward $115,000, dipped near $107,000 in late August, then rebounded toward $118,000 in September before retracing again. This range-bound action set the stage for the current on‑chain capitulation.
Frequently Asked Questions
What triggered the recent Bitcoin capitulation?
Short-term weakness after a sharp rally and SOPR falling below 1 prompted many recent buyers to sell at losses. Simultaneous realized losses from whale cohorts increased sell-side liquidity and market pressure.
Is the short-term realized price a reliable support level?
Historically, the short-term realized price has acted as an on‑chain support zone. If price holds above this level, it often helps stabilize markets; if breached, further selling can accelerate from distressed holders.
Key Takeaways
- Capitulation confirmed: 30,000+ BTC moved to exchanges at a loss, marking notable short-term selling.
- Whales de-risking: New and older whale cohorts realized significant losses, adding to supply pressure.
- Watch realized support: The short-term holder realized price is the critical level — hold = stabilize, breach = potential for more selling.
Conclusion
Bitcoin capitulation, evidenced by SOPR dropping below 1 and more than 30,000 BTC moved to exchanges at a loss, underscores heightened short‑term selling and whale de‑risking. Traders should monitor the short‑term realized price and on‑chain metrics like MVRV and realized losses for signals of stabilization or further downside. COINOTAG will continue to track updates and on‑chain developments.
