Bitcoin Capitulates Again: Second Round of Panic Selling Hits Lower Peaks

CryptoQuant analyst Axel Adler Jr. says Bitcoin is experiencing its second round of panic selling this year.

The current 30-day average profit and loss ratio has dropped to around 0.28, indicating it's in the capitulation pressure zone.

This round peaked at $1.4 billion in early June, but has since fallen back to about $558 million. The first round of panic selling peaked at around $2.6 billion in February.