Bitcoin capitulations abound — Data shows realized and unrealized losses at record-highs
Bankruptcies, shrinking profit margins and traders realizing hefty losses are all signs of capitulation from various market participants. Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis from Glassnode, the scale of both realized and unrealized losses amongst Bitcoin holders is one of the heaviest capitulation events in BTC’s history. Capitulation is hindering all groups from the increasing number of bankruptcies and dwindling miner revenue. Bitcoin’s realized losses fourth largest on record while unrealized losses increase November record ed $10.8 billion in 7-day realized losses for Bitcoin. The largest record ed realized loss in Bitcoin’s history is June 2022 when $19.8 billion was record ed. Su...