{"id":33394,"date":"2026-11-01T15:59:35","date_gmt":"2026-11-01T15:59:35","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/11\/01\/bitcoin-1-billion-realized-losses-long-term-holders-resist\/"},"modified":"2026-11-01T15:59:41","modified_gmt":"2026-11-01T15:59:41","slug":"bitcoin-1-billion-realized-losses-long-term-holders-resist","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/bitcoin-1-billion-realized-losses-long-term-holders-resist\/","title":{"rendered":"Bitcoin: $1.1 Billion in Realized Losses \u2014 But These Holders Aren’t Selling"},"content":{"rendered":"\n

The Bitcoin<\/strong> market is navigating a turbulent stretch: $1.1 billion in realized losses<\/strong> recorded in a single session, with selling pressure putting investors’ psychological resilience to the test.<\/p>\n\n\n\n

Yet behind that stark figure, on-chain<\/strong> data tells a more nuanced story. Not all holders are reacting to the volatility in the same way.<\/p>\n\n\n\n

One group in particular is staying remarkably calm \u2014 and that is precisely the signal analysts should be paying close attention to.<\/p>\n\n\n\n

$1.1 Billion in Losses: Who Is Really Selling?<\/h2>\n\n\n\n

On-chain data from CryptoQuant<\/strong> and CoinGlass<\/strong> points to a targeted capitulation: it is primarily Short-Term Holders (STH)<\/strong> who are realizing losses. These investors, who entered the market during recent price peaks, now find themselves below their average acquisition cost and are choosing to cut their positions.<\/p>\n\n\n\n

This behavior is a classic feature of prolonged correction phases. When the Bitcoin<\/a> spot price<\/strong> drops below the average cost basis of STHs, the psychological pressure becomes unbearable for a portion of them. The result: cascading sell-offs that amplify the short-term decline and fuel volatility across derivatives markets.<\/p>\n\n\n\n

The $1.1 billion<\/strong> in realized losses is significant, but it fits within a pattern already observed during the corrections of 2022 and 2024. This is not a signal of broad-based capitulation \u2014 it is a selective flush of weak hands.<\/p>\n\n\n\n

\"Bitcoin<\/figure>\n\n\n\n

Long-Term Holders: The Bullish Signal the Market Is Ignoring<\/h2>\n\n\n\n

While STHs are liquidating, Long-Term Holders (LTH)<\/strong> \u2014 defined as wallets holding BTC for more than 155 days \u2014 are maintaining their positions. On-chain metrics show that the LTH spending rate remains low, and is even declining, despite the bearish price pressure.<\/p>\n\n\n\n

Historically, this behavior is one of the most reliable indicators of Bitcoin<\/a>‘s structural market health<\/strong>. LTHs have navigated multiple full cycles: they carry a far higher drawdown tolerance than new entrants and have no urgency to sell at levels they consider undervalued relative to their investment horizon.<\/p>\n\n\n\n

The MVRV Z-Score<\/strong> and the Spent Output Profit Ratio (SOPR)<\/strong> for LTHs confirm this reading: long-term holders are not distributing at scale. They are accumulating, or simply waiting \u2014 which, in on-chain language, is often the precursor to a resumption of bullish price action.<\/p>\n\n\n\n

What This Divergence Reveals About Market Structure<\/h2>\n\n\n\n

The divergence between STHs and LTHs is far from trivial. It signals that the market is in a phase of redistribution from weak hands to strong hands<\/strong> \u2014 a well-documented mechanism across Bitcoin<\/strong> cycles. Recent buyers, often driven by FOMO during rallies, are handing off their positions to more seasoned investors who view the correction as an entry or accumulation opportunity.<\/p>\n\n\n\n

This dynamic does not guarantee an immediate rebound. Key support levels on the chart \u2014 particularly the liquidity zones identified between $75,000 and $78,000<\/strong><\/a> according to CoinGlass<\/strong> data \u2014 remain under close watch. Holding above these thresholds would be a positive technical signal for the continuation of the medium-term bullish structure.<\/p>\n\n\n\n

On the other hand, if STH selling pressure intensifies without sufficient absorption by LTHs and institutional buyers, a test of deeper support levels remains a real possibility. The market is at a crossroads: the resilience of long-term holders will be the defining factor for Bitcoin’s next price action move.<\/p>\n\n\n\n

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