Bitcoin Holders Realize $1.1 Billion in Losses as New Buyers Face Pressure

Bitcoin holders recorded $1.115 billion in realized losses in a 24-hour reading dated Oct. 31, while short-term holders sent more than 36,600 BTC to exchanges at a loss, highlighting pressure on recent buyers.

The $1.115 billion reading also included $519.15 million in realized profits. Neither that reading nor the separate 36,600 BTC measure specified its exact start and end times or time zone, so neither figure represents a precise calendar-day total.

Realized losses compare the value of Bitcoin outputs when they are spent with the value recorded when they were created. The calculation reflects coins moved at a loss on-chain, but does not confirm an open-market sale. Likewise, a transfer to an exchange shows that coins arrived at a trading platform, not that they were sold afterward.

The short-term-holder transfer figure was the highest activity of that type reported for October. The seven-day sum of short-term-holder exchange inflows also reached its October high, though the available figures do not establish how many of those deposits were sold.

In a separate Oct. 31 snapshot, Bitcoin traded around $77,300 to $77,500. Coins held for one to three months had a realized price of about $76,400 to $76,500, with estimated unrealized gains of 1% to 2%. The broader short-term-holder realized price was approximately $75,800, adding context to the short-term-holder cost basis.

The long-term-holder Spent Output Profit Ratio (LTH-SOPR) was near 1.01. It measures gains or losses on outputs held for more than 155 days; a reading above 1 means spent outputs were moved at an average profit. A reading near 1.01 is close to breakeven, but does not show that long-term holders stopped selling.

Exchange netflows shifted between modest outflows and inflows, leaving the broader flow picture mixed. The readings point to pressure among newer holders, but do not establish that all exchange-bound Bitcoin was sold or that long-term holders have stopped selling.