⚡️Analyst: The actual losses of Bitcoin holders are still below the peak of the previous cycle, and the bear market has entered a deep adjustment phase.

On June 7, analyst Darkfost posted on social media that since the market peaked last October, Bitcoin holders have realized a total loss of about $174 billion. Because realized losses are denominated in USD, as Bitcoin's market value continues to grow, the scale of losses in each bear market is also expanding. Data shows that the total realized loss in the 2014 bear market was only about $2.4 billion, when Bitcoin's total market cap was around $6 billion to $8 billion; during 2019, this number rose to about $60 billion.

However, the scale of realized losses in the current cycle has not yet broken the record. The previous bear market saw a total realized loss of about $211 billion, higher than the current level. Analysts believe this indicates there may still be room for further market clearing. If the bear market continues for several months, the cumulative realized losses could surpass the record of the previous cycle, but so far, even though this bear market has entered a deeper stage, the actual market losses remain below the peak level of the previous cycle.