The post Realized Bitcoin Losses Rise To FTX Crash Levels: Glassnode appeared on BitcoinEthereumNews.com. Bitcoin has taken a slide back to its April level of around $83,000, with mounting selling pressure prompting many investors to sell at a loss, reminiscent of major historic market crashes. Realized losses on Bitcoin (BTC) have surged to levels not seen since the 2022 FTX collapse, according to blockchain data platform Glassnode. “The scale and speed of these losses reflect a meaningful washout of marginal demand as recent buyers unwind into the drawdown,” Glassnode noted in an X post on Friday. Glassnode’s observation came minutes before Bitcoin slipped as low as $80,500 on Coinbase, marking a 36% decline from its all-time high of $126,210 recorded just weeks ago in early October. Short-term holders driving the capitulation According to Glassnode, a big chunk of selling in the ongoing Bitcoin crash is due to short-term holders. Data from analytics platform CryptoQuant shares a similar perspective, noting that short-term selling “often marks a local bottom if the price quickly reclaims the cost basis.” “Failing to do so historically indicates a deeper bearish trend or confirms a bear market,” CryptoQuant wrote on X on Thursday. Source: CryptoQuant Although many market observers say the current downturn could signal the end of the bull market that began in 2023, prominent industry figures such as Jan3’s Samson Mow have cast doubt on the onset of a crypto winter. “How can we have a bear market when we haven’t even had a proper bull market?” Mow asked in a post on X on Thursday, referring to growing caution across the market. Where is the bottom? With Bitcoin in the red for four straight weeks and the Crypto Fear & Greed Index plunging into “Extreme Fear,” the question of how low BTC could fall has become a major concern. “We’ve been slicing through support levels like butter lately,… The post Realized Bitcoin Losses Rise To FTX Crash Levels: Glassnode appeared on BitcoinEthereumNews.com. Bitcoin has taken a slide back to its April level of around $83,000, with mounting selling pressure prompting many investors to sell at a loss, reminiscent of major historic market crashes. Realized losses on Bitcoin (BTC) have surged to levels not seen since the 2022 FTX collapse, according to blockchain data platform Glassnode. “The scale and speed of these losses reflect a meaningful washout of marginal demand as recent buyers unwind into the drawdown,” Glassnode noted in an X post on Friday. Glassnode’s observation came minutes before Bitcoin slipped as low as $80,500 on Coinbase, marking a 36% decline from its all-time high of $126,210 recorded just weeks ago in early October. Short-term holders driving the capitulation According to Glassnode, a big chunk of selling in the ongoing Bitcoin crash is due to short-term holders. Data from analytics platform CryptoQuant shares a similar perspective, noting that short-term selling “often marks a local bottom if the price quickly reclaims the cost basis.” “Failing to do so historically indicates a deeper bearish trend or confirms a bear market,” CryptoQuant wrote on X on Thursday. Source: CryptoQuant Although many market observers say the current downturn could signal the end of the bull market that began in 2023, prominent industry figures such as Jan3’s Samson Mow have cast doubt on the onset of a crypto winter. “How can we have a bear market when we haven’t even had a proper bull market?” Mow asked in a post on X on Thursday, referring to growing caution across the market. Where is the bottom? With Bitcoin in the red for four straight weeks and the Crypto Fear & Greed Index plunging into “Extreme Fear,” the question of how low BTC could fall has become a major concern. “We’ve been slicing through support levels like butter lately,…