Comment by kimixa
12 hours ago
Bitcoin is volatile enough you can cherry-pick pretty much any %age you want based on the dates you choose. Which you seem to have done here - "happening" to choose the day with the lowest single day value in the last 3 years for your comparison point.
For another narrative, it was 83,038 a month ago on Sept 29th, so is down 5% in one month. And one year ago it was 112,562 on Oct 29th 2025 - down over 30% in one year. Well into "bear market" territory.
Using "traditional" market indicators and definitions for things like bear/bull markets doesn't feel sensible for such a volatile market.
Fine, but the comment "It's a (weak) bear market capitulation signal" is inapplicable, either because defining bear/bull markets doesn't feel sensible, or because it's not currently in the capitulation stage of a bear market, but some way off the bottom.