Analyst: Realized losses in this bear market total $174 billion, still below the peak of the previous cycle

Odaily Planet Daily News On-chain analyst Darkfost stated that he has compiled the realized losses (in USD) of the Bitcoin market during previous bear markets. Theoretically, as the total market capitalization continues to expand, under similar market behavior, the scale of dollar losses during a bear market should also continue to grow.

Data shows that during the 2014 bear market, realized losses were only about $2.4 billion, when Bitcoin's market cap was around $6 to $8 billion; during the 2019 bear market, realized losses increased to $60 billion.

Since the current cycle peaked in October last year, the market has accumulated approximately $174 billion in realized losses. However, this figure has not yet set a new record; the cumulative realized losses during the previous bear market reached $211 billion.

Darkfost believes this may indicate further room for market cleanup, but this judgment is still highly subjective. If the bear market lasts for several months, the scale of realized losses could surpass the level of the previous cycle; but for now, although this bear market has entered a relatively deep stage, the cumulative losses have not yet reached an all-time high.