Wu Says He Learned That, According to CryptoQuant Analysis, BTC’s pullback may not yet have reached the level of a complete market collapse. Over the past 30 days, realized losses have reached 187,000 BTC, which is lower than the 400,000 BTC peak loss during the panic in February of this year and the 1.2 million BTC peak loss after the FTX collapse. Based on historical experience, major bottoms often form after the selling pressure is exhausted; the data shows that this stage has not yet been reached.