The Glassnode analysis company revealed how the tendency in the loss carried out by Bitcoin could imply that sellers can begin to achieve exhaustion.
Bitcoin made the loss shows signs of saturation
In a new post on X, Glassnode explained how the capitulation of Bitcoin felt during the latest prices. The chain relevance indicator here is the “loss made”, which measures, as its name suggests, the total amount of losses that investors on the Bitcoin network as a whole “realize”.
The metric works through the history of the transactions of each room being moved or sold on the blockchain to see at what price it was transgeated before that. If the previous sale price is greater than the current price price of any part, its sale would contribute to the realization of losses.
The amount of losses made in the sale is, of course, equal to the difference between the two prices. The loss carried out calculates this value for all transactions occurring on the network and summarizes them to find the total situation.
Like the loss achieved, there is also an indicator known as the profit made. This metric naturally keeps a trace of sales of the opposite type (that is to say where the last transfer value is lower than the last price in the cash).
Now here is the table of the loss carried out by Bitcoin shared by the analytical company which shows the trend of its 6 -hour rolling value in the past year:
Looks like the value of the metric has observed large spikes in recent days | Source: Glassnode on X
As it is visible in the graph above, the loss of Bitcoin carried out several major points during the lower price action in February and March, suggesting that the panic of investors sold their underwater parts.
The recent FUD around prices has triggered a continuation of the downside for the assets and, predictablely, the holders have also shown a significant capitulation now.
But interesting, the extent of the loss made of 6 hours was notably lower than the front tips. This could imply that the capitulation achieves a saturation point, which, according to Glassnod, can be an early sign that sellers become exhausted. If this is the case, it is possible that BTC is close to a kind of background.
In the same time, the chain analysis company also discussed the recent trajectory in the market capitalization of altcoins (that is to say cryptocurrencies excluding Bitcoin, Ethereum and Stablecoins).
The trend in the combined market cap of the altcoins over the last few years | Source: Glassnode on X
Since the graph, it is obvious that the Altcoin market capitalization was at a top of $ 1 billion in December 2024, but today, metric is reduced to $ 583 billion. “Assets further on the risk curve have shown increased sensitivity to liquidity shocks, leading to severe devaluation on the sector scale,” notes Glassnode.
BTC price
Bitcoin has tried to recover in the last two days because its price has returned to $ 81,900.
The price of the coin seems to have been rising recently | Source: BTCUSDT on TradingView
Dall-E star image, Glassnode.com, tradingView.com graphic
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