Bitcoin holders turn to realized losses on a 30-day basis… first time since October 2023
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Summary
- According to CryptoQuant, Bitcoin (BTC) holders are recording realized losses on a 30-day cumulative basis.
- It noted that Bitcoin sold over the past month was disposed of at prices below the average purchase price, indicating a price correction trend and that short-term holders’ tolerance is being put to the test.
- The market sees this loss phase as potentially part of deleveraging and a cooling of short-term overheating, but warns that if it drags on, weakening investor sentiment and the possibility of further volatility are key risk factors.
In the Bitcoin (BTC) market, the profit-and-loss profile of short-term investors is deteriorating again, with signs pointing to a corrective phase.
On the 20th (local time), CryptoQuant Chief Analyst Julio Moreno said on X that “Bitcoin holders are recording realized losses on a 30-day cumulative basis. This is the first time this has happened since October 2023.”
A shift to realized losses means that Bitcoin sold over the past month was disposed of at prices below the average purchase price. This pattern typically emerges when a price correction persists for a period, suggesting that short-term holders’ patience is being tested.
Some in the market interpret the move into a loss phase not as an immediate breakdown of the trend, but as part of a broader process of deleveraging and cooling off short-term overheating. Still, if the realized-loss phase becomes prolonged, deteriorating investor sentiment and the risk of further volatility are being flagged as key concerns.
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