Bitcoin Faces Capitulation Zone: When Will BTC Price Hit Bottom?

Bitcoin is currently in a capitulation phase, as long-term investors sell off. Traders are speculating if $40,000 will be the ultimate price bottom.

Bitcoin is currently navigating through what many are calling a capitulation zone. In this phase, long-term holders are offloading their assets, contributing to a bearish sentiment within the market.

Onchain metrics indicate a potential for further declines, raising questions among traders about the future trajectory of Bitcoin's price. The focal point of this discussion is whether the $40,000 level will serve as the definitive bottom for BTC.