On-chain analyst Checkmate reports that Bitcoin's Mean Reversion Index has fallen to Q18, placing it in the "deep value zone" defined as anything below Q20. This marks the fourth capitulation-style sell-off since Bitcoin's all-time high, with daily sell volume doubling from approximately $420 million to over $850 million. More than 85% of the selling pressure comes from investors who recently bought near the $80,000 peak, while long-term holders remain largely profitable and have not significantly reduced their positions. The data suggests short-term speculators are driving the current drawdown rather than established holders exiting en masse.