Bitcoin (BTC) has traded in a downward trend since the $126k peak in October 2025. In the middle of a long-term decline, the king’s currency fell below the STH Realized Price, meaning that buyers recently lost.
Checkonchain’s data showed that 45.8% of all current transactions are in loss, and only 54.12% in profit. The loss of quantity has attracted many market participants, especially whales.
Bitcoin whales realize a loss of $ 337 million in Q1
Advertisers with 100 to 10,000 BTC reported a $30.9 billion loss for the first quarter of 2026. Among these losses, whales recorded the biggest losses at $337 million per day, according to CryptoRover.
This was the biggest daily loss since the bear market of 2022, marking one of the most brutal distributions on record.
Bitcoin’s long-term holders contributed about $200 million daily. In the past, this kind of permanent loss did not specify the beginning but started before the crisis.
In previous years, the decline began when losses stabilized, with an average of $25 million per day. In today’s current market, this market still has a long way to go to lower levels.
In addition to this, the LTH and STH properties lost remained very high. According to Checkonchain data, LTHs and STHs earning losses averaged 4k BTC daily from March to early April.
As contributions to losses continue to rise, investors will lose confidence and try to reduce losses, as evidenced by recent losses.
What is the future of BTC?
While the recent market may indicate a tax harvest, it also warns of external forces driving the market toward savings.
Increased risk and loss recognition have stretched the market significantly, increasing downside risk. Looking at the bullish and bearish signs of volatility, the market remains volatile.
The average volatility is 1.9, the downside is 1.6, and the spread is -0.10, indicating a slight decline. At the same time, strong emotions indicate weak energy, without a tendency to become strong.
In the past, this type of market led to long-term consolidation. If the current sentiment continues, BTC may extend the range between $70k and $65k.
However, if the losses continue to increase while the demand decreases, the market may see further losses and possibly fall to $62,500.
Brief Summary
- Bitcoin’s net worth hit $30.9 billion in Q1, and whales netted more than $337 million.
- BTC remains stable and less volatile despite increasing losses.
