Bitcoin’s seven-day average Net Realized Profit/Loss has reached about $2.3 billion in net realized losses, marking the largest reading since 2021. Data from Bitget Research shows heavy distribution by recent buyers who sold below cost basis. At the same time, Korean authorities confirmed separate incidents involving lost or seized Bitcoin during ongoing investigations. The developments arrive as Bitcoin trades near $66,491 with elevated volatility and weak aggregate sentiment.
Realized loss measures the dollar value of coins sold below their on-chain acquisition price. A seven-day average reduces daily noise and exposes broader capitulation trends. Current figures show strong sell pressure from short-term holders.
CryptoRank reported that daily NRPL dropped to approximately negative $1.99 billion on February 7. This level mirrors the scale recorded during the 2022 Luna collapse. Yet prices now sit near $67,000, far above the $19,000 range seen during that crisis.
On-chain analyst Axel Adler Jr. compared the two periods while noting key structural differences. He stated that realized losses hit $2.3 billion, a level previously exceeded only during the Luna crash. He added that the context differs because today’s losses occur at much higher prices without a systemic breakdown.
IndexBox data shows realized losses moved into net territory over 30 days for the first time since October 2023. The period recorded roughly 69,000 BTC in losses, valued at nearly $6 billion. The data suggests short-term participants drove much of the sell-side activity.
Glassnode warned that failing to reclaim key on-chain cost-basis levels may increase vulnerability. If supply is underwater, further declines could trigger additional distribution from recent buyers.
Bitcoin trades near $66,491 with very high measured volatility. The price is below both the 50-day and 200-day simple moving averages. The relative strength index sits near 31, indicating cooled momentum without offering a directional forecast.
Major banks have adopted a more cautious tone. Standard Chartered trimmed year-end projections, reflecting a reserved institutional stance rather than a firm directional call.
Elevated realized losses can precede either deeper drawdowns or the formation of a base. Much depends on whether spot prices reclaim dominant cost-basis bands for recent buyers. If those levels fail, could fragility deepen as more supply stays at a loss?
For now, market data shows cyclical deleveraging and cohort rotation rather than structural market failure. Absolute loss figures alone do not confirm systemic stress without reviewing acquisition prices and funding structures.
Separately, the Seoul Gangnam Police Station confirmed that it lost track of Bitcoin seized during an investigation. Authorities stated that 22 BTC, valued at nearly $1.5 million, moved out of a USB cold wallet. Local outlet Donga first reported the incident.
Police received the Bitcoin in November 2021. An internal review later discovered that the coins had been siphoned off, and the investigation was suspended. The physical USB device stayed in custody, yet the digital assets moved without detection.
The Gyeonggi Bukbu Provincial Police Agency launched an internal probe to determine how the transfer occurred. Officials are examining whether internal involvement played a role. A representative declined further comment due to the ongoing investigation.
The discovery followed a nationwide inspection of investigative agencies. Authorities initiated the review after losing 320 BTC at the Gwangju District Prosecutors’ Office. Reports state that investigators mistakenly accessed a phishing website, which led to the drained assets.
These incidents add another layer of scrutiny around digital asset custody as markets already confront heightened volatility and elevated realized losses.
Also Read: Bitcoin Price Trades at $66,400 Amid Consolidation Below $72,000 Resistance
Bitcoin realized loss reached $2.3 billion, marking the largest seven-day drawdown since 2021 as short-term holders drove heavy selling. Net Realized Profit/Loss turned negative while volatility increased, and price stayed below key averages. Meanwhile, Korean authorities launched investigations into missing seized Bitcoin during internal reviews.