Is Bitcoin in capitulation territory?

Bitcoin’s (BTC) ongoing volatility below the $110,000 mark is raising questions about whether the asset is destined for further losses, but historical data suggests otherwise. According to on-chain data shared by analyst Ali Martinez, Bitcoin’s trader profit/loss margin currently sits around -5%. Historical patterns show that when this margin drops below -12%, the cryptocurrency tends to rebound strongly, signaling the end of major downtrends. Martinez’s data, retrieved from CryptoQuant on October 22, shows deep negative margins, indicating widespread unrealized losses among short-term holders, which have historically aligned with cyclical bottoms in Bitcoin’s price source: https://finbold.com/is-bitcoin-in-capitulation-territory/