Bitcoin slides to 3-month low near $65,000 amid capitulation wave

Bitcoin slides — Bitcoin (BTC) has declined to its lowest price in three months, briefly touching the $65,000 level as analysts identify a fourth wave of investor capitulation.

Glassnode lead analyst James Check noted that the market is experiencing a fourth distinct wave of capitulation, a pattern where investors sell at a loss. He observed that some holders are now selling at price levels they previously wished they had bought at just three months ago.

The drop marks a significant retreat from recent highs and reflects ongoing market pressure. The $65,000 level represents a key psychological and technical threshold that had previously provided support.

This latest move suggests a shift in market sentiment as long-term holders begin to distribute coins. The capitulation waves indicate periods of intense selling pressure that have historically preceded potential market stabilization points, though future price direction remains uncertain.