Glassnode: Sellers are capitulating again, potentially signaling a local bottom.

On October 16, Glassnode posted on social media that seller capitulation re-emerged during BTC's decline yesterday. Three loss-driven sell-offs occurred in early August, mid-August, and mid-September respectively, each precisely marking a local bottom. Since the September high, the pace of profit-taking has slowed. If this pattern continues to hold, yesterday's sell-off just above $80,000 would serve as a bottom signal.