Glassnode: Bitcoin whales and sharks had an average daily loss of over 300 million USD in Q1, with a total realized loss of over 30.9 billion USD for the year

Glassnode's on-chain data shows that Bitcoin holders with 100 to 1,000 coins, referred to as "sharks," and those with 1,000 to 10,000 coins, known as "whales," have realized daily losses of approximately $188.5 million and $147.5 million, respectively, totaling about $337 million. The cumulative locked-in losses for the year have reached as high as $30.9 billion, nearing the levels seen during the 2022 bear market.

Analysis indicates that the current selling pressure stems from rising macro risks (inflation expectations, crowded AI trading, etc.) and weakening market confidence, with large holders accelerating their stop-loss exits. Meanwhile, long-term holders (LTH) continue to realize daily losses at a high level of about $200 million, indicating that there has not yet been a clear "exhaustion of selling pressure" in the market. Institutions believe that under multiple pressures, Bitcoin still faces further downside risks, with some views suggesting a potential bottom range between $40,000 and $50,000.