Bitcoin risks new 'purge' with bear-market losses still $35B below 2022 total

Written by William Subergstaff writerReviewed by Allen Scottstaff editorWritten by William Subergstaff writerReviewed by Allen Scottstaff editorBitcoin risks new 'purge' with bear-market losses still $35B below 2022 totalMarketsPublishedJun 7, 2026Bitcoin realized losses remained below the $211 billion tally from 2022, leading to a prediction that the next bear-market bottom was not yet in.Bitcoin (BTC) threatens to “purge further” as realized losses in the 2026 bear market fail to beat records.Key points:Bitcoin realized losses have not yet surpassed the 2022 total despite market cap being higher.History suggests that a fresh round of capitulation should occur before a bear-market bottom appears.Retail investor conviction is still "remarkably high" despite new macro lows.Bitcoin bear market bottom may need "a few more months"New data from onchain analytics platform CryptoQuant shows that investor capitulation has not yet matched the levels of the 2022 bear market.“Realized losses are calculated in USD, so logic would dictate that with similar behavior, USD losses during bear markets should be increasingly significant given that market capitalization keeps growing,” contributor Darkfost wrote in a post on X.Realized losses refer to coins moving onchain at a lower price compared to their previous transaction — a telltale sign that an investor is selling their holdings at a loss.In the 2022 bear market, such realized losses hit $211 billion, marking a new record. This year has yet to beat it, despite the Bitcoin market cap being higher in US dollar terms.“Today, since the October top, approximately $174B in losses have already been realized,” Darkfost continued.Bitcoin bear market realized loss comparison. Source: Darkfost/Xalready differs from past bear markets in terms ofThe result could be that a fresh round of loss-making market exits enters in order for historical patterns to be preserved.“This may suggest that the market could purge further, although this rem…

Bitcoin risks new 'purge' with bear-market losses still $35B below 2022 total

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