"Bitcoin Losses Are Increasing: FTX Collapse Is Decisive"

Recent negative developments in Bitcoin (BTC) are attracting the attention of investors. The increase in realized losses clearly highlights the impacts of the recent price drop. A large number of investors have opted to close their positions in response to this adverse trend.

According to data provided by Glassnode, realized losses in Bitcoin have reached $800 million, approaching the peak levels of $1.2 to $1.3 billion during the FTX collapse. This situation indicates that the current market conditions are largely influenced by short-term investors. It is evident that short-term holders (STH) have notably emerged during the recent fluctuations over the last 24 hours. The concentration of losses shown in the charts in the red zone suggests that new investors making purchases are quickly closing their positions.

The contributions of long-term investors (LTH) appear to be almost non-existent in the chart. This situation indicates that long-term investors have not yet opted to sell in the markets. Glassnode data suggests that the amount and speed of realized losses indicate a significant depletion in marginal demand in the markets. Historically, such periods are associated with the cleansing of weak hands from the market and the subsequent formation of a more solid base.

The data emphasizes that Bitcoin has reached an important threshold in the current wave of selling. Glassnode states that the most critical factor that will determine the direction of the market after this intense pressure from short-term investors is the potential for demand recovery. The dynamics of demand, which will be an important monitoring point for investors, have a significant impact on the future trajectory of Bitcoin.