Bitcoin's recent price decline to $77,553 has converted paper losses into realized losses for many holders. Following a sharp drop below $80,000 between October 30-31, realized losses reached $1.115 billion compared to realized profits of $519.15 million, more than double the profit figure.
Short-term holders have accelerated their exit activity, sending over 36,600 BTC to exchanges within a 24-hour period—one of the largest weekly exchange inflows recorded in October. This surge reflects an increasing sense of urgency among recent buyers to reposition ahead of potential further declines.
Recent purchasers who acquired Bitcoin 1-3 months ago currently hold unrealized gains between 1% and 2%, with a cost basis around $76,400–$76,500. At current prices, these investors would need to see substantial declines before realizing negative returns on their positions.
In contrast, long-term holders have maintained relatively modest exchange deposit activity and minimal increases in dormant coin flows, limiting broader selling pressure across the investor base. Their restrained participation suggests they are not joining the exodus triggered by short-term losses.
Bitcoin's ability to hold support near $76,400–$76,500 depends critically on spot market demand. Without sufficient buying interest, continued selling pressure from short-term holders could push prices below recent buyers' cost basis and deepen the correction.
