
Glassnode's James Check on the Peak Capitulation Event That Flushed Out the Final Bitcoin Top Buyers
The Breakdown
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The Long-Term Holder Game
There's a reset event that always happens at which everything compresses to the similar spot. The short-termers have become long-termers by no conviction of their own necessarily, just desperately hoping that things change. This is the point at which they no longer can play the long-term holder game. If you recently acquired your coin, if the price drops like it did in May 2021 by 50%, suddenly you're under water by 50%.
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