Analysts: Short-term BTC investors have not yet fully capitulated, and it is still too early to judge the Bear Market.

BlockBeats news, on November 15, CryptoQuant analyst CrazzyBlockk stated that the Bitcoin market is heavily influenced by the profitability of new entrants, who represent new funds and liquidity. When this group of investors realizes profits, market confidence is strengthened, allowing the dynamic rising trend to continue. When short-term holders face a loss of 20%-40%, it often triggers panic dumping. Historically, this level of pain marks the market entering a full capitulation phase. However, in terms of the current extent of losses for this group, we are still far from typical Bear Market signals. If new entrants can realize some profits, market support will gradually form, and this pullback is more likely to become a “mid-cycle correction” rather than the start of a Bear Market.