Bitcoin's Second Panic Selloff Has Half the Intensity of February, CryptoQuant Analysis Shows

BTC-2.21%
According to CryptoQuant analyst Axel Adler Jr., Bitcoin is experiencing its second panic selloff of the year on June 17, but with intensity roughly half that of February. The 30-day average profit/loss ratio has fallen to approximately 0.28 in capitulation zone, indicating realized losses significantly exceed realized gains in recent weeks. However, realized loss peaks tell a different story: February's first panic peak reached approximately $2.6 billion, while June's second peak was only about $1.4 billion—roughly 50% of February's level—and has since declined to approximately $558 million. This sharp reduction in selloff intensity suggests fewer capitulating sellers remain, with behavior increasingly characteristic of late-stage panic selling phases.
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