Analyst: Current bear market has realized $17.4 billion in losses, below the peak of previous cycle

According to ME News, on June 7 (UTC+8), on-chain analyst Darkfost stated that he has calculated the realized losses in the Bitcoin market during previous bear markets, measured in U.S. dollars. Theoretically, as the total market capitalization expands, realized losses in U.S. dollars during bear markets should also continue to grow under similar market conditions. Data shows that during the 2014 bear market, realized losses amounted to approximately $2.4 billion, when Bitcoin’s market capitalization was around $6 to $8 billion. During the 2019 bear market, realized losses increased to $60 billion. Since the peak of this cycle in October last year, the market has accumulated approximately $174 billion in realized losses. However, this figure has not yet surpassed the record; during the previous bear market, cumulative realized losses reached $211 billion. Darkfost believes this may indicate that the market still has room for further liquidation, though this assessment remains highly subjective. If the current bear market persists for several months, realized losses could potentially exceed levels seen in the prior cycle; however, at present, despite the current bear market having entered a deep phase, cumulative losses have not yet reached the historical high. (Source: ODAILY)