⚠️ Mid-size whales are moving coins at a loss - and have been since Nov 2025.
- Nov 7 peak: +2.357B realized profit (BTC at 103K)
- Nov 21: -1.714B (first flush, BTC at 85K)
- Feb 5: -1.638B (BTC at 62.8K)
- Feb 18: -793M (BTC at 66.4K)
- Feb 24: -639M (BTC at 64.1K)
Realized P/L captures on-chain movement - transfers, sales, OTC. Not pure sell volume.
But five loss events above -500M in 3 months with no recovery? That's not rebalancing. That's exit.
$BTC down 46% from ATH. This cohort is still bleeding.
Written by IT Tech
