• Analysis from experts suggests that the futures market may not have fully reached a point of capitulation, as there has been modest long liquidation and no negative funding ratios.
• Changes in support/resistance levels and the formation of a head-and-shoulders pattern contribute to uncertainty in the market.
• Bitcoin continues to show strong trading volume, indicating sustained market activity even with slight price increases.

Bitcoin's recent fluctuations in price have caused concern among investors, with insights from the futures market showing that a definitive capitulation has not yet occurred. Despite dropping below the important $59,000 support level, the liquidation of long positions only amounted to around $120 million, a significant but not overwhelming amount compared to previous instances.

According to CryptoQuant, a leading analytics firm, the relatively small liquidation and the lack of strong negative funding ratios suggest that a major capitulation in the futures market may still lie ahead.