CryptoQuant: The seven-day average realized net loss of Bitcoin has reached 2.3 billion USD, marking the largest decline since 2021

Analyst IT Tech stated in a report from CryptoQuant on Thursday that Bitcoin's seven-day average realized net loss has reached $2.3 billion, calling it "one of the largest panic sell-off events in Bitcoin's history, comparable to the 2021 crash, the 2022 Luna/FTX debacle, and the mid-2024 adjustment."

"This scale of loss ranks among the top 3 to 5 in history," the analyst added, "There have been only a few instances in Bitcoin's history where such a level of panic selling has occurred." Bitcoin has plummeted nearly 50% from its all-time high of over $126,000 last October, currently trading around $66,600; it had previously dipped to a low of $60,000 on February 6 before recovering.