Bitcoin realized losses rise to FTX crash levels: Where is the bottom?

Bitcoin is experiencing significant sell-off pressure, with realized losses reaching figures not seen since the FTX collapse in 2022. This downturn has seen Bitcoin's price drop to approximately $83,000, a notable decline of 36% from its all-time high of $126,210 earlier this October. Short-term holders are primarily responsible for the current sell-off, and analytics suggest that such selling patterns could indicate either a local market bottom or further bearish trends, depending on price recovery. The market has been marked by 'Extreme Fear' according to the Crypto Fear & Greed Index, raising concerns about potential further declines. Analysts such as Mati Greenspan are skeptical about entering a prolonged bear market, pointing out that the current rapid price movements could lead to quicker bearish targets. Meanwhile, industry figures like Tom Lee remain optimistic, predicting a rebound for Bitcoin, potentially reaching between $150,000 and $200,000 by January 2026, echoing sentiments about market recoveries akin to previous cycles.

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