Bitcoin Buyers Bled Dry as $90M Capitulation Hits

Newer Bitcoin buyers are increasingly incurring losses as market pressure persists, according to recent on-chain data from CryptoQuant. The 30-day average of Bitcoin sent to exchanges at a loss has climbed to 2,450 BTC, indicating capitulation among investors who bought their coins between $75,000 and $126,000.

Monthly realized losses have reached a record $90 million, exceeding previous capitulation phases. This suggests recent buyers are absorbing larger losses because they entered the market at much higher prices.

Despite this, history shows that capitulation often emerges near the later stages of market resets. If Short-Term Holder SOPR, UTXOs in Loss, and the Realized Profit/Loss Ratio begin stabilizing, selling pressure could gradually ease.

New demand is rebuilding support for Bitcoin, with new buyers stepping in at each opportunity to absorb available supply rather than a second round of distribution from the STH base. This trend is being displayed clearly within the area of price between $62,000 and $65,000, where a new cost basis was created when Bitcoin bounced from its low point at $57,000.

Attention has shifted to the $66,000 resistance level as BTC trades around $64,700-$65,000. The Sell-Side Risk Ratio continues declining, signaling growing seller exhaustion.