PANews, June 17 – CryptoQuant analyst Axel Adler Jr. stated that Bitcoin is experiencing its second round of panic selling this year, but the intensity is far weaker than in February. The current 30-day average profit/loss ratio has dropped to approximately 0.28, placing it in the capitulation pressure zone, which means that over the past few weeks, realized losses have significantly exceeded realized profits. However, the key difference is: during the first round of panic in February, the peak realized loss was approximately $2.6 billion, while the second round’s peak in early June was only about $1.4 billion — almost half of February’s figure — and has since fallen back to around $558 million.

The comparison of the two peaks indicates that the intensity of this round of panic selling has clearly weakened, meaning that sellers willing to cut losses and exit are decreasing, and the behavior is more characteristic of the late stage of a sell-off. The analyst noted that if the 30-day moving average of the profit/loss ratio begins to turn upward and move out of the capitulation pressure zone, it would be the first positive signal of seller exhaustion; if realized losses break through the February peak again, it would mean capitulation pressure is intensifying once more.