I've done & not-done capitalization; and related, on-line HERE, at least,
I tend to italicize knot names (then uncapitalized, mostly).
In short, though, esp. where the writing has a knots focus,
it can be helpful to use capitalization (which will seem more
helpful where there are a lot of knots to name vs. one with
a lone knot that's repeatedly names :-).
One might also consider that some *knot* names
do well (better, even) as knot-class/type names
(think "ring bend", "loop knot" (=OH eye knot), e.g.),
and might thus serve to make that distinction.
--dl*
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