Bitcoin signals potential seller exhaustion as realized losses decline

Bitcoin may be entering a phase of seller exhaustion. After bottoming near $60,000 on Feb. 5, the asset has spent more than two months consolidating, gradually grinding higher toward the $70,000 level. This came alongside macro uncertainty with the Middle East conflict pushing oil prices well above $100 a barrel. Data from CheckonChain suggests that selling pressure is beginning to ease. Realized losses are currently around $400 million per day, still elevated compared to previous years, but trending lower in recent weeks.Realized losses had spiked to as much as $2 billion on Nov. 21 and Feb. 5, reaching levels not seen in several years and surpassing those seen during the 2022 bear market, according to the data. "Spot markets are shifting from aggressive selling to net buy side pressure, realized profits and losses are both declining," said CheckonChain. Glassnode data reinforces this trend. On a seven-day moving average, realized profits are around $300 million per day, near twelve-month lows. This suggests that investors who accumulated bitcoin at $60,000 are now marginally in profit and beginning to take some gains. Meanwhile, the realized profit-to-loss ratio has risen to 1.4, its highest level since January, according to Glassnode data. This metric, which compares the value of coins moved at a profit to those moved at a loss, shows that realized profits now outweigh losses. These indicators point toward a market where selling pressure is fading, raising the likelihood that bitcoin is approaching a phase of seller exhaustion. More For You Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap. Why it matters: As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve. More For You Arkham data shows 8,285 BTC in Coinbase Prime custody as the company swings from $8 billion profit to nearly $5 billion loss ahead of its IPO push. What to know: