Bitcoin’s price drop led to more than $2.16 billion in realized losses, with most of them coming from recent BTC buyers.
In a recent analysis thread, Glassnode found that between Feb. 25 up until Feb. 27, traders lost more than $2.16 billion in realized losses due to the crypto crash that started on Feb. 25 when the price of BTC (BTC) dropped below $90,000 for the first time since November 2024.
The platform breaks down the losses suffered by traders based on when they bought BTC and the market impact of the recent crypto crash compared to previous market spike this year.
Most of these losses came from people who bought BTC within a week before the price crash. On the other hand, people who have held BTC for longer suffered relatively less losses compared to people who bought BTC recently.
“This suggests that those who entered in H2 2024 or earlier are largely holding, while more recent buyers are exiting under pressure,” wrote Glassnode.
Traders who bought BTC within the past week suffered the most losses at $927 million, which is around 42.5% of the total realized losses. The second largest loss came from traders who bought Bitcoin within a month before the price went down, which is $678 million or 31.3% of total losses.
Meanwhile, traders who bought Bitcoin within 24 hours before the crash only made up 14% of the total loss, which is around $322 million. Moreover, traders who bought BTC up to three months before the price dipped contributed 11.9% of total losses or $257 million.
In contrast, people who have held onto their Bitcoin for longer, in the time span between three months to a year before the crash, experienced far less losses compared to the recent buyers. Traders who bought BTC within six months before the price dipped only lost 6.5 million or 0.3% from the total realized losses.
Meanwhile, traders who bought BTC within one year suffered the least amount of losses, with only 0.15% of the total losses or around $3.2 million.
Additionally, Glassnode’s research found that Feb. 26 was the largest single-day crypto crash this year with an aggregated realized loss amounting to $1.13 billion. This number is 25% larger than the previous single-day market drop, on Feb. 3 which amounted to $848 million in losses.
