The crypto market is currently doing its best impression of a reality show: chaos, confetti-free, and a chart that looks like it has a vendetta against optimism.
On-chain data confirms February 5 will be remembered as a historic day of pain for anyone who bought a coin and secretly hoped for a happy ending.
CryptoQuant reports investors locked in a staggering $3.2 billion in realized losses in a single 24-hour period. If you blinked, you missed the group therapy session your wallet never asked for.
Bitcoin Just Witnessed One of Largest Capitulation Events Ever
U.Today Crypto Digest: Ripple CEO Calls XRP “Heartbeat” of Company, Shiba Inu Drops to Lowest Level Since 2023, Bitcoin Price Rallies After US Jobs Report
A major capitulation event
This metric tracks the net dollar value of all coins moved on-chain compared to the price at which they were last moved. In other words, it’s the market’s way of spilling the tea about who did what to whom, and for how much.
The massive red bars indicate periods where investors are predominantly selling at a loss. It’s basically the market waving a white flag and yelling, “I regret nothing.”
Over the last week, the market has realized an average of $2.3 billion in losses every single day. Yes, that’s a lot of regret to stock up on for next quarter.
As noted by the analyst, this magnitude places the current crash in the “top 3-5 loss events ever recorded.” No big deal, just your occasional history-making meltdown.
The chart allows us to compare the 2026 spike against Bitcoin’s most infamous crashes.
May 2021 (the China ban) is the tallest red spike on the chart. This occurred when Bitcoin dropped from $60,000 to $30,999 following China’s mining ban.
The Terra/Luna & 3AC Collapse was the second cluster of massive red bars. This was a credit crisis that forced institutional giants to liquidate assets at depressed prices.
The FTX explosion marked yet another wider spike. The psychological capitulation was extreme, with Bitcoin collapsing to just $15,000.
The February 2026 event is visually comparable to the June 2022 deleveraging event.
More pain?
Despite the severity of the capitulation, the worst might not be over for members of the cryptocurrency community. Standard Chartered has issued a cautionary note to cryptocurrency investors, warning that the market is poised for a significant correction.
Standard Chartered believes Bitcoin could slide as low as $50,000, with Ether potentially tumbling to $1,400.
Kendrick argues that the macro environment is flashing warning signs. The softening U.S. economy, delayed risk cuts, and ETF outflows could jointly contribute to lower cryptocurrency prices.
Read More
- 2025 Crypto Wallets: Secure, Smart, and Surprisingly Simple!
- Monster Hunter Stories 3: Twisted Reflection launches on March 13, 2026 for PS5, Xbox Series, Switch 2, and PC
- Here Are the Best TV Shows to Stream this Weekend on Paramount+, Including ‘48 Hours’
- 🚨 Kiyosaki’s Doomsday Dance: Bitcoin, Bubbles, and the End of Fake Money? 🚨
- ‘The Substance’ Is HBO Max’s Most-Watched Movie of the Week: Here Are the Remaining Top 10 Movies
- First Details of the ‘Avengers: Doomsday’ Teaser Leak Online
- The 10 Most Beautiful Women in the World for 2026, According to the Golden Ratio
- The 11 Elden Ring: Nightreign DLC features that would surprise and delight the biggest FromSoftware fans
- 20 Films Where the Opening Credits Play Over a Single Continuous Shot
- Crypto’s Comeback? $5.5B Sell-Off Fails to Dampen Enthusiasm!
2026-02-12 23:07