BTC: 1-Year Net Realized P/L Sits Below Zero

BTC-1-Year-Net-Realized-PL-Sits-Below-Zero

Bitcoin’s 1-year Net Realized Profit/Loss is currently below zero, with the latest reading near -354K BTC.

This means that, over the past 365 days, realized losses have exceeded realized profits in BTC terms.

For context, previous troughs on this metric were much deeper: around -3.7M BTC in 2015, -4.0M BTC in 2019, and -4.3M BTC in 2023.

In terms of depth, the current negative reading is still far smaller than those historical troughs.

The signal is cautionary, but not capitulation-level by itself.

Key takeaway:
BTC is now in net realized loss territory on the 1-year sum. Realized loss stress is present, but the current depth remains far below prior troughs, so this metric alone does not confirm capitulation-level conditions.