The accumulation of bearish red candles persists throughout the digital asset sector.
While not a sudden, violent crash, bitcoin (BTC) has steadily declined by almost an additional 3% following the closing of U.S. equities on Friday night, reaching a new three-month bottom of $65,000 recently.
The leading cryptocurrency globally has now retreated by 13.5% across the previous seven days. Meanwhile, ether has dropped 18%, XRP has fallen by 16.3%, and solana is down 18%.
Where’s the bottom?
“We’re watching the fourth capitulation event since the all-time high,” wrote analyst James Check early Saturday.
He noted that the vast majority of participants currently realizing losses are those who hesitated to purchase during the summer when prices hovered in the mid-to-high $60,000 range, only to chase the market due to fear of missing out (FOMO) when bitcoin surged past $80,000 in September. These individuals are presently liquidating their holdings precisely at the valuation they previously wished they had acquired three months prior.
Check added that bitcoin currently sits inside a “deep value” region, a territory previously observed in February and late June of the current year, as well as during the depths of the 2022 crypto winter. Although this does not guarantee that a definitive market bottom has been reached, historical precedent indicates that investors who gradually scale into positions will ultimately secure profitable returns over time.
Read more: Bitcoin plunges to $68,000 as Anthropic IPO frenzy adds to market jitters
Originally published at https://www.coindesk.com/markets/2026/11/14/bitcoin-drifts-back-to-usd65-000-deep-value-zone-says-analyst.
