Latest data shows that Bitcoin's seven-day moving average loss has significantly narrowed to $611 million, with gains of $346 million during the same period. Although overall investors remain in a net loss position, the scale of losses has decreased by 87% compared to the peak loss of $2 billion in February when Bitcoin fell below $60,000, indicating that the previous intense selling pressure is subsiding.
According to data analysis from Adler Insight combined with CryptoQuant, recent losses are concentrated from the end of 2025 to early 2026, and the current market environment differs significantly from previous bear markets: the proportion of short-term holders (those holding for less than 155 days) has risen to 22%, well above the 12% seen at the market bottom in 2023. Typically, these investors tend to sell quickly during price declines, exacerbating market volatility. However, current data shows that most short-term holders are choosing to hold onto their assets rather than exit, effectively alleviating selling pressure and pushing the market into a consolidation phase.
When the net realized profit and loss indicator is zero, it signifies a shift in the market from losses to profits. For the past four months, this indicator has remained negative, reflecting that the investor group is still collectively “cutting losses,” which is usually seen as a phase where “weak hands” exit and chips are redistributed. If net profit and loss turns positive, it does not necessarily indicate the start of a bull market, but it means that buying power is sufficient to absorb selling pressure, marking the potential end of the most intense selling cycle. Currently, the net loss stands at -$264 million, and if Bitcoin stabilizes in the $70,000 to $72,000 range this week, it could welcome the first net profit week in months.
However, whether this trend can continue still depends on whether prices can form sustained upward momentum. Current data only indicates that extreme selling sentiment is weakening, and the market direction still needs to be observed in terms of subsequent trading volume and sentiment changes.