Bitcoin Experiences Significant On-Chain Losses at High Price Levels
- Bitcoin’s Net Realized Profit/Loss fell to -$1.99 billion on Feb. 7, improving slightly to -$1.73 billion by Feb. 10.
- This negative regime is the second deepest in Bitcoin’s history, only surpassed by June 18, when it hit -$2.24 billion during the Luna/UST crash.
- Realized losses spiked to $2.3 billion on Feb.7 and remained near that level through Feb.10, with a single-day loss of $6.05 billion recorded on Feb.5.
- Current losses are crystallizing around $67,000 after a pullback from $125,000, contrasting with similar past losses at a price of $19,000.
Bitcoin is experiencing significant on-chain losses akin to those during the Luna/UST meltdown but at much higher price levels around $67,000 compared to past events at lower prices like $19,000.
The persistence of these high-level losses suggests a capitulation phase for late bull-cycle entries rather than a systemic market failure as seen previously with Luna/UST (Source).
