The largest realized loss in bitcoin history came during last week’s market crash, breaking previous records when the asset plummeted from $70,000 to $60,000 on February 5.
According to Glassnode, the entity’s adjusted realized loss reached $3.2 billion. This metric exclusively tracks the dollar value of moved coins sold below their acquisition price while also filtering out internal transfers between the same entity.
This massive capitulation surpassed even the darkest days of 2022, eclipsing the $2.7 billion loss recorded during the collapse.
According to data platform Checkonchain, “Last week’s bitcoin sell-off meets the criteria for a textbook capitulation event. It happened quickly, in high volume, and crystallized losses for holders with lower conviction.”
With daily net losses exceeding $1.5 billion, the scale of this liquidation represents the most significant absolute dollar loss ever crystallized in the network’s history. This points to more signs that the bear market has bottomed.
At the time of writing, bitcoin is trading around $67,600.
