Analytics platform Glassnode is saying the losses Bitcoin (BTC) investors have incurred as the price of the crypto king trends lower are now averaging $112 million per day.
According to the analytics platform, the losses have not shaken investor confidence in the flagship crypto asset, as they remain in line with average declines seen during past reversals.
“This remains within the typical range seen during local corrections throughout the bull cycle, with many events such as the Aug-2024 yen-carry unwind, and the ‘Trump Tariff Tantrum’ in Mar-Apr-2025 leading to substantially higher capitulation volumes.
This suggests that the prevailing downturn has not put a meaningful dent in investor confidence just yet, although elevated losses would start working against that idea.”
Glassnode, however, says that Bitcoin could be in the tail end of the bullish cycle based on inflows.
“Capital inflows into Bitcoin are showing signs of fatigue, with demand softening even as price set a new [all-time high] ATH at $124,400. This slowing appetite has coincided with a surge in speculative positioning, as open interest across major altcoins briefly reached a record high of $60 billion before correcting with a -$2.5 billion decline.”
The analytics platform further says,
