PANews February 12 News, according to CoinDesk, Glassnode data shows that during the process of Bitcoin dropping from $70,000 to $60,000 on February 5th, on-chain realized losses reached $3.2 billion, setting a record for the largest single-day loss in Bitcoin history, surpassing the $2.7 billion loss during the 2022 LUNA collapse. This data tracks realized losses after entity adjustments, only counting Bitcoin sold below the purchase price, and filters out transfers within the same entity.
Data analysis platform Checkonchain pointed out that this sell-off aligns with textbook capitulation characteristics: rapid speed, high trading volume, and low-confidence holders exiting en masse. The data shows that the average daily net loss that week exceeded $1.5 billion. Analysts believe that such a large-scale loss is one of the typical signals of a market bottom in a bear market.
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