Bitcoin drops to US$ 88,000 and profit cycle turns negative for the first time since 2023

Source: PortaldoBitcoin Original Title: Bitcoin Today: BTC Drops to US$ 88,000 and Profit Cycle Turns Negative for the 1st Time Since 2023 Original Link: Bitcoin is on track to close the week lower, falling another 1.2% this Friday to be traded at US$ 88,853.

Bitcoin holders are crossing a psychological threshold not seen in over two years, shifting from recording profits to losses.

The realized net profit/loss, which captures the aggregate gains or losses that investors consolidate when moving coins on-chain, has entered negative territory, suggesting that the realization of losses is becoming widespread.

“This is the first time that holders have realized net losses in a 30-day period since October of 2023,” analysts stated in a published research report.

“Bitcoin tourists are cutting losses,” indicating that short-term holders are selling their positions and recording losses.

This signals a possible inflection point regarding the bull market that began at the end of 2023, serving as an important on-chain thermometer for investors seeking to assess market strength.

The accumulated realized net losses over the period amount to approximately 69,000 BTC. With Bitcoin priced at US$ 88,000, these losses total over US$ 6 billion.

Divergence from previous peaks

At the March 2024 price peak, 1.2 million BTC in realized profits were recorded, but by October 2025, even with Bitcoin reaching a new all-time high of US$ 124,774, this number had fallen to 331,000 BTC.

“The realized net loss also follows similar levels and patterns to March 2022, when the bear market was already underway,” indicating that “the decline in realized net profits signals a loss of strength in Bitcoin’s price.”

The effect of lower volatility

The decline is not necessarily a sign of an imminent reversal. According to analysts, the decrease in realized profit and loss is a sign of lower volatility due to the entry of “more sophisticated players in the digital asset market.”

Instead, macroeconomic factors are highlighted as the main drivers of Bitcoin’s price, noting the asset’s increasing sensitivity to policy changes.

The drop of the leading cryptocurrency below US$ 90,000 was partly driven by the effects of Japan’s bond market crisis and a sequence of US$ 1 billion liquidations following changes in global economic policies.

Analysts point to Fed interest rate forecasts, the impending US debt crisis, and foreign policies as crucial factors. The upcoming leadership change at the Federal Reserve is considered an important variable, with expectations that markets will see favorable conditions with accelerated economic growth policies.

Whether the cycle of negative profit will trigger a prolonged decline or just a temporary adjustment now depends on which outlook proves more accurate.