The number of spent UTXOs at a loss has reached peak levels, indicating the onset of a capitulation phase among Bitcoin holders. This was highlighted by an analyst using the pseudonym Darkfost.
This signal has appeared for the first time since the correction began in October 2025. The expert noted that such periods have “always been profitable for long-term investors,” as they begin to accumulate the asset.
Meanwhile, analyst Lukasz Wydra pointed to the confirmation of a “bullish divergence” for Bitcoin on the RSI chart.
Bitcoin (bitcoin:native) Update 📊
The bullish RSI divergence on the Bitcoin chart has now been officially confirmed. It may still deepen, but at the same time we can clearly see that Binance continues to defend the price.
That’s an encouraging sign. Even more importantly, the… pic.twitter.com/VQrI70Q6tZ
— Lukasz Wydra (@lukasz_wydra) June 26, 2026
He emphasized that the decline slowed at $59,000, as the anticipated panic among investors did not materialize.
At the same time, technical analyst Niels expects a deeper bottom for the digital gold. He considers the key zone to be around $55,000—after reaching this level, the coin may change direction.
$BTC wants lower from here.
I’m still convinced of $55K Bitcoin before any big move. pic.twitter.com/e52qp4yli9
— Niels (@Web3Niels) June 27, 2026
How Does a Bottom Form?
Swissblock describes three phases of bottom formation:
- Breakdown. Momentum sharply turns negative as selling pressure intensifies.
- Base Formation. Price stabilizes, momentum remains weak, while Bitcoin’s dynamics become neutral. Selling pressure is still being absorbed.
- Recovery. Initially, Bitcoin’s momentum turns positive, followed by price recovery. Only then does a sustainable upward trend begin to form.
According to experts, the first cryptocurrency has likely already passed the first phase. The market is currently in the base formation stage.
In June, analysts warned of weak buying demand for Bitcoin.
