The recent downturn in the Bitcoin market has resulted in significant losses, with a total of $2.16 billion in realized losses. This has led to new market entrants leaving the Bitcoin ecosystem. Short-term Bitcoin holders are responsible for the majority of these losses, particularly those who bought Bitcoin within the last week. The data shows that these recent buyers accounted for 42.85% of the losses, with the rest of the short-term holders also experiencing significant losses. However, long-term holders who have held Bitcoin for over 3 months have remained calm and their losses have been negligible. Market observers are now watching to see if Bitcoin can reach a strong support level in the near future.



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