Bitcoin Bottom Is Near as Miners Capitulating Near FTX Implosion Level: CryptoQuant Miner capitulation levels are now comparable with those in end of 2022, which was the market bottom after FTX implosion, CryptoQuant said. Bitcoin (BTC) miners are showing signs of capitulation, an event that is typically tied to a market bottom after the world's largest cryptocurrency endured a 13% plight over the past 30 days. Bitcoin is currently trading at $60,300 after sliding by 3% on Wednesday. This level has acted as a critical support since April, with bitcoin bouncing three times from this region before heading back towards the $70,000 mark. Data provider CryptoQuant believes this is likely to happen again in the near future as numerous signs point towards capitulation following a period of intense sell pressure.