Data: Bitcoin Whales and Sharks Average Daily Loss Exceeds $300 Million in Q1, Total Losses Over $30.9 Billion for the Year

According to on-chain data from Glassnode, in the first quarter of 2026, Bitcoin holders categorized as ‘sharks’ (holding 100–1,000 BTC) and ‘whales’ (holding 1,000–10,000 BTC) incurred average daily losses of approximately $188.5 million and $147.5 million, respectively, totaling about $337 million. Cumulatively, the losses for the year have reached as high as $30.9 billion, nearing the levels seen during the bear market of 2022. Analysis indicates that the current selling pressure is driven by rising macro risks (such as inflation expectations and crowded AI trading) and weakening market confidence, prompting large holders to accelerate their stop-loss exits. Meanwhile, long-term holders (LTH) continue to realize average daily losses of around $200 million, indicating that the market has not yet experienced a significant ‘selling pressure exhaustion.’ Institutions believe that under multiple pressures, Bitcoin still faces further downside risks, with some opinions suggesting a potential bottom range between $40,000 and $50,000.