Recent research revealed that new Bitcoin buyers have collectively lost over $100 million in just six weeks due to panic selling amidst price fluctuations. The analytics platform CryptoQuant indicated that short-term holders (STHs)—those who purchased Bitcoin within the last six months—have been significantly impacted, with many exiting their positions at a loss. As a result, the realized cap of these investors has seen a considerable decline, signaling that their market holdings are now worth less than the prices at which they acquired them. This behavior has heightened selling pressure in the market and could indicate potential further declines in Bitcoin's price in the near future. Historical trends suggest that such corrections often precede strong recoveries, but current on-chain indicators hint at a possible structural shift, leading to a more prolonged bearish phase.

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