CryptoQuant says Bitcoin is approaching the final stage of market capitulation. The Realized P/L Ratio, which tracks BTC sold at a profit versus a loss, has dropped to its lowest level in nearly four years.

Historically, similar readings have appeared near market bottoms, when fearful sellers have mostly exited and selling pressure begins to fade.

It is not a signal that a reversal is happening right now, but it may indicate that the market is entering the late capitulation phase.

The UK’s FCA has published its final crypto regulatory framework. Crypto exchanges, custodians, stablecoin issuers, and staking providers will need FCA authorization to operate.
Applications open in September, with a deadline of February 28, 2027. The new regime takes effect on October 25, 2027, introducing mandatory licensing, capital stress tests, stricter anti-market manipulation rules, and updated stablecoin requirements. AML registration alone will no longer be sufficient.

Bitcoin ETFs are going through their first real bear market, and many investors are now sitting in the red.
The average entry price of ETF holders is estimated to be around $72,400. With Bitcoin trading near $62,000, that puts many positions at roughly a 14% unrealized loss.
Since the peak of ETF inflows, the sector has fallen into its largest drawdown on record.
More than $10.5 billion has left Bitcoin ETFs since October 12, showing that a lot of investors have already decided to exit.
The data also suggests that demand remains weak, with buyers still hesitant to step back into the market.

BAYC floor price already pulled a clean x2 in the last month while crypto degens are slowly rotating back into NFTs like it’s 2021 again. APE is catching bids too, and people are starting to bet on a broader NFT market comeback.

While everyone was busy chasing memes and AI coins, NFTs quietly started waking up again. Even CoinDesk is talking about renewed interest in the sector.