Data: Bitcoin whales and sharks saw an average daily loss of over 300 million US dollars in Q1, with total realized losses exceeding 30.9 billion US dollars for the year.

According to ChainCatcher, on-chain data from glassnode shows that Bitcoin holders with 100–1,000 coins (“sharks”) and those with 1,000–10,000 coins (“whales”) have been realizing average daily losses of approximately $188.5 million and $147.5 million respectively, totaling around $337 million. The cumulative realized losses so far this year have reached as high as $30.9 billion, approaching levels seen during the 2022 bear market.

Analysis indicates that the current selling pressure is driven by rising macro risks (such as inflation expectations and crowded AI trades) and weakening market confidence, with large holders accelerating stop-loss exits. Meanwhile, long-term holders (LTH) are still realizing average daily losses of about $200 million, indicating that the market has yet to show a clear “exhaustion of selling pressure.” Institutions believe that under multiple pressures, Bitcoin faces further downside risk, with some expecting the potential bottom range to be between $40,000 and $50,000.