Bitcoin market enters full capitulation as price dips below $63K

CoinTelegraph

by Nancy Lubale

February 24, 2026

AI-Generated Deep Dive Summary

Bitcoin's market has entered a significant phase of capitulation as its price dropped below $63K, reflecting broader concerns among investors. The cryptocurrency fell by 4% over the past 24 hours, reaching an intraday low of $62,700. This decline has been exacerbated by panic selling from short-term holders and technical indicators like the Relative Strength Index (RSI) nearing record lows. Analysts suggest that Bitcoin is moving into an "excess loss-realization" phase, potentially signaling the formation of a price bottom. The current market dynamics are driven by a combination of factors. Short-term holders, facing significant losses, have intensified their selling activity, contributing to the downward pressure on Bitcoin's price. The RSI, a key technical indicator, is at near-record lows, indicating extreme weakness and suggesting that the market may

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Originally published on CoinTelegraph on 2/24/2026