The largest realized loss in Bitcoin’s history occurred during last week’s market downturn, when the asset plummeted from $70,000 to $60,000 on February 5, shattering its previous record.
According to Glassnode data, the entity’s adjusted realized losses reached $3.2 billion. This metric specifically tracks the dollar value of mobile tokens sold for less than the acquisition price, while filtering out internal transfers between the same entity.
This massive capitulation surpasses even the darkest days of 2022 and exceeds the $2.7 billion in losses recorded during 2022. Collapse.
According to data platform Checkonchain, “Last week’s Bitcoin sell-off met the criteria of a textbook capitulation event. It happened quickly, on high volume, and resulted in losses for the lowest-conviction holders.”
With daily net losses exceeding $1.5 billion, the scale of the sell-off represents the worst absolute dollar loss in the network’s history. This shows more signs that the bear market is bottoming out.
At press time, Bitcoin was trading at approximately $67,600.