Glassnode: Bitcoin holders have realized losses reaching a new high since the FTX collapse, with short-term holders dominating the sell-off

Nov 21, 2025 19:01:32

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According to Glassnode analysis, the realized losses of BTC holders have risen to the highest level since the FTX collapse, with short-term holders being the main drivers of this sell-off. The scale and speed of these losses reflect that, as recent buyers have closed positions during the decline, marginal demand has significantly decreased.

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