Analysis: On-chain data shows Bitcoin sellers' pressure is easing, possibly entering a phase of seller exhaustion

2026-04-12 00:23:50

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Deep Tide TechFlow News, April 12, According to CoinDesk, on-chain data shows that Bitcoin seller pressure is gradually weakening, and the market may be approaching a seller exhaustion phase.

According to CheckonChain data, the realized loss for Bitcoin is currently about $400 million per day, significantly down from previous peaks. Previously, realized losses surged to about $2 billion per day on November 21, 2022, and February 5, 2023, reaching multi-year highs, surpassing levels during the 2022 bear market. CheckonChain stated, “The spot market is shifting from aggressive selling to net buying pressure, with both realized profits and losses showing a downward trend.”

Glassnode data also confirms this trend. Using a seven-day moving average, realized profits are about $300 million per day, approaching a twelve-month low, indicating that investors who accumulated near $60,000 are currently slightly profitable and beginning to take profits gradually. Meanwhile, the realized profit-to-loss ratio has risen to 1.4, the highest level since January this year, indicating that current realized profits have exceeded realized losses.

Since Bitcoin bottomed around $60,000 on February 5 this year, it has experienced over two months of consolidation, with the price gradually climbing toward the $70,000 range.

BTC-1,66%

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