Data from Glassnode shows more than $7 billion in Bitcoin losses was realized within three consecutive days, the most in the history of the crypto.
This metric calculates this value by looking at the transfer history of each coin being sold right now to see what price it was last moved at.
If the last selling value of a coin was more than the current Bitcoin price, then that specific coin realized some loss.
When the value of the realized loss spikes up, it means holders are currently selling a large amount of underwater supply.
Such a trend, when prolonged over a period, can suggest BTC investors may be going through a capitulation phase at the moment.
Now, here is a chart that shows the trend in the Bitcoin realized loss over the last few years:
As you can see in the above graph, Bitcoin investors have realized a pretty high amount of losses in the last few days.
In fact, spikes of the indicator on three straight days during the past week corresponded to a loss taking of more than $7 billion.
This value of loss realization is the highest it has been in the history of the crypto over a period of three consecutive days.
Some of these LTHs who capitulated bought at the $69k top and sold at the $18k low, thus realizing a massive 75% in loss.
Generally, LTHs are the least likely bunch to sell and as is visible in the chart, heavy loss taking from them has only occurred around bottoms.