Bitcoin Breaks Above Capitulation Levels, Eyes $71K Resistance
Bitcoin has navigated its worst capitulation levels since 2014 but charts hint at an impending recovery. According to VanEck, BTC has triggered 8 out of 12 key capitulation signals, including the MVRV (Market Value to Realized Value) Z-score and percentage supply in profit. This suggests a possible bottoming out before a significant price surge.
The flagship cryptocurrency broke above its months-long consolidation between $62K and $64K, gaining 7.02% and reaching a price of $69,081. Its MVRV Z-score is now at 0.53, indicating support from actual buyer cost basis. Additionally, the coin's demand has turned positive for the first time since February 2026, with roughly +25,000 BTC in buying activity.
This shift in demand historically precedes a median gain of 18.1% over 60 days, with an 18.1% win rate. The next major resistance lies at $71,300, $71,500, closely aligned with its 200-day moving average. Crossing this would signal the end of the macro bearish trend.