Bitcoin miner capitulation is the phrase circulating after Bitdeer sold its entire 1,132 BTC treasury. The headline is sharp, but the context is heavier.
Macro Risk and Founder Sales Weigh on Crypto as Sentiment Hits Extreme Fear
The ongoing slide in Bitcoin and Ethereum reflects a broader risk-off macro backdrop, where tariff uncertainty, geopolitical tensions, and capital rotation into precious metals and AI-linked equities have thinned crypto liquidity and weakened narratives.
In this environment, digital assets are competing with defensive and growth themes outside crypto, limiting upside momentum.
High-profile sales have amplified the psychological pressure.
Vitalik Buterin reducing portions of his ETH to fund ecosystem grants, and firms like Bitdeer reallocating Bitcoin exposure toward AI infrastructure, are being interpreted by retail participants as bearish signals.
In reality, these are strategic, long-term capital decisions rather than directional calls on price.
However, optics matter, and in fragile conditions they can accelerate fear-driven selling.
With sentiment slipping into extreme fear territory, the market is now testing key structural levels.
In the near term, I expect Bitcoin to trade between $58,000 and $76,000, with current levels around $64,500 probing important support.
Ethereum is likely to range between $1,750 and $2,200, with the $1,850 area acting as a near-term pivot.
Recovery catalysts would include clearer U.S. policy direction, constructive Fed signals, or renewed institutional inflows.
Conversely, sustained founder sales or deteriorating on-chain activity could extend caution.
Ultimately, this deleveraging phase may be uncomfortable, but it also lays the groundwork for healthier, innovation-driven growth once macro pressure stabilizes.
Ryan Lee, Chief Analyst at Bitget
Written by András Mészáros
Cryptocurrency and Web3 expert, founder of Kriptoworld
LinkedIn | X (Twitter) | More articles
Cryptocurrency and Web3 expert, founder of Kriptoworld
LinkedIn | X (Twitter) | More articles
With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: February 24, 2026 • 🕓 Last updated: February 24, 2026
✉️ Contact: [email protected]
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
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