The chain analytics firm GlassNode reveals how Bitcoin holders are aware of massive losses during their BTC trip, reaching $93,000.
Bitcoin achieved recent losses, gaining a peak of $520 million recently
GlassNode talks about the trend of Bitcoin’s recent losses in its latest weekly report. “Realized Loss” here refers to an on-chain indicator that measures the total loss that BTC investors “achieved” or harvested every day through sales.
The metric is to browse the transaction history of each token on the web to see the price moved before that. If the previous sale price of any coin exceeds the current price, the sale of a particular coin will result in loss realization.
It is assumed that the loss is equal to the difference between the two prices. The realized losses summarize the value of all the coins sold in losses to determine the total number of networks. Another metric called realized profits similarly tracks the opposite type of token.
Now, here is the chart shared by the analytics companies in the report that shows the trend of the losses Bitcoin has achieved over the past few years:
The value of the metric appears to have witnessed a spike in recent days | Source: Glassnode's The Week Onchain - Week 6, 2025
In the figure, the loss of Bitcoin implementation shown is an “entity-adjusted” version, meaning it can only track loss transactions occurring between two separate entities.
“Entity” refers to the set of addresses that GlassNode determines belonging to the same investor. When investors move coins between wallets, there is naturally no loss, so it makes sense to exclude these transfers from the indicators.
From the chart, it is obvious that the indicator has seen significant growth earlier in the month, during which the total losses of asset investors totaled $520 million.
The impetus for this surrender activity was the $93,000 mark of cryptocurrency prices. As GlassNode highlights in the graph, this event is one of the biggest events in the current cycle, with only the yen carrying trade relaxing $1.3 billion in Spike, a significantly larger peak.
Historically, the peak of realization losses is actually bullish on Bitcoin. The reason behind this is that in such events, coins tend to move from weak hands to strong forces. These determined investors are more willing to hold, so cryptocurrencies tend to hit their lowest points as sales pressure runs out.
Although the recent surrender incident is very large in terms of the US dollar, the cycles represented in BTC are actually still within the norm, as shown in the figure below.
The trend in the BTC-denominated Realized Loss during the last two years | Source: Glassnode's The Week Onchain - Week 6, 2025
BTC price
Bitcoin hasn't been able to build momentum in either direction lately, as its price is still finding its own $96,000 or so.
Looks like the price of the coin failed in yesterday's attempt at recovery | Source: BTCUSDT on TradingView
Dall-E, Featured Images of GlassNode.com, Charts of TradingView.com
