Bitcoin loses $2.3B in biggest crash since 2021 as capitulation intensifies: Analyst - Source: CoinTelegraph

Bitcoin has posted $2.3 billion in realized losses in what one analyst says is one of the largest capitulation events in history, rivaling its crash in 2021.

Bitcoin’s seven-day average realized net losses hit $2.3 billion, analyst IT Tech said in anoteon CryptoQuant on Thursday, which it called “one of the largest capitulation events in BTC history, rivaling the 2021 crash, 2022 Luna/FTX collapse, and mid-2024 correction.”

“This puts us in the top 3-5 loss events ever recorded,” IT Tech added. “Only a handful of moments in Bitcoin's history have seen this level of capitulation.”

Story continues: https://cointelegraph.com/news/bitcoin-suffers-losses-rivaling-2021-crash-as-capitulation-continues