The post Bitcoin Sell-Off Triggers Largest Realized-Loss Spike Since 2022: Glassnode appeared on BitcoinEthereumNews.com.

Bitcoin’s recent pullback has left a familiar trail of pain on-chain: realized losses have spiked to levels not seen since the shockwaves of the FTX collapse in late 2022, with short-term holders doing most of the bleeding while long-term holders remain largely on the sidelines. That was the blunt takeaway from analytics firm Glassnode, which flagged the move in a terse X post and an accompanying chart that visualizes the sudden jump in losses attributed to recent buyers. The implication is clear: the market’s stress is concentrated among those who purchased in the past few months and are now closing positions at a loss, rather than long-standing holders capitulating. Price action has matched the mood. Bitcoin tumbled from its October all-time high north of $126,000 down into the low-$80,000s at the most acute moment of the sell-off, a drawdown of roughly 36%, before wobbling in a choppy range in the $81,000–$92,000 band. As of the latest prices, BTC is trading in the low $90,000s, reflecting the market’s ongoing struggle to find a stable footing amid thinner liquidity and episodic deleveraging across futures markets. Those price moves helped produce the large, short-lived spikes of realized losses visible on Glassnode’s chart. On-chain breakdowns show the asymmetry: short-term holders (STHs), typically defined by Glassnode as addresses that have held coins for under roughly 155 days, now hold the bulk of supply in loss, a level not seen since the FTX-era capitulation. Long-term holders (LTHs) have largely sat out the panic, keeping their unrealized losses far smaller in comparison. That dynamic matters because when recent buyers drive most of the selling, it signals a liquidity- and sentiment-driven correction rather than a fundamental shift in demand among patient, long-duration investors. It also means that the path to a cleaner bottom could run through an extended…

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Filed under: News - @ December 6, 2025 5:26 am