Bitcoin's performance in the ongoing bear market is continuing to raise concerns among analysts and investors alike. According to data from onchain analytics platform CryptoQuant, realized losses in the current market have yet to surpass those seen in 2022, despite a higher market cap.
The concept of 'realized losses' refers to coins moving onchain at a lower price compared to their previous transaction – a telltale sign that an investor is selling their holdings at a loss. In the 2022 bear market, such realized losses hit $211 billion, marking a new record.
However, this year has yet to match these levels, with approximately $174B in losses already being realized since the October top. This discrepancy could potentially lead to a fresh round of loss-making market exits before a bear-market bottom appears.