Glassnode: Bitcoin Realized Losses Have Hit Bear Market Levels

Bitcoin’s on-chain data has flashed a signal that has historically come before prolonged bear market conditions, with the Realized Profit/Loss Ratio confirming a regime shift toward loss-dominant selling. The move suggests that liquidity is evaporating from the market, forcing investors to realize losses rather than book profits, a dynamic last seen during the deepest crypto winter periods of 2018 and 2022. Key Metri…