The current bitcoin bear market has inflicted plenty of pain. But how much pain is enough? Yes, bitcoin's down about 50% from its October 2025 high, with roughly $1.2 trillion in market capitalization lost. For a lot of people, that hurts, no doubt. But as the cryptocurrency tries to pull away from its most recent bear-market low, market observers and investors are debating whether the bottom is finally in. Part of that debate is whether we've seen capitulation—the kind of sharp, sustained declines that are so nasty that any investor who's not absolutely committed for the long haul finally says, "I'm out." There's no ... (full story)