CryptoQuant: Bitcoin Net Realized Losses Since December 23, First Since October 2023

On January 22, 2026, CryptoQuant reported that Bitcoin holders have shifted into a net realized loss phase for the first time since October 2023. Since December 23, investors have booked roughly 69,000 BTC in losses, while annual realized profits have compressed to about 2.5 million BTC, down from around 4.4 million in October.