Bitcoin in ‘capitulation zone’ as traders debate when BTC price will bottom

Bitcoin appears trapped within a capitulation zone where long-term holders continue to sell, and bearish onchain metrics hint at further downside. Will a drop to $40,000 mark the final price bottom?

Bitcoin (BTC) sellers resumed their activity on Thursday as the Bitcoin price turned away from its intraday high of $68,300. Analysts said that Bitcoin remained in capitulation, which could push the price lower, potentially reaching a bottom during the last quarter of 2026.

Key takeaways:

Multiple onchain indicators suggest Bitcoin is in deep capitulation as downside risks remain.

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