BTC Breaks Through 68,000 USDT

Overview of popular cryptocurrencies on February 12, 2026, with the top three being: Bitcoin, Ethereum, and BNB

Analysis: Last week, Bitcoin experienced the largest realized loss in history due to a sharp decline, and bottoming signals are gradually emerging.

On February 5th, Bitcoin's price dropped from $70,000 to $60,000, with on-chain realized losses reaching $3.2 billion, marking the largest single-day loss in history. This sell-off is analyzed as a typical capitulation event, potentially signaling the bottom of the bear market.

Bitcoin's epic sell-off review: $3.2 billion in actual losses set a record, and bottoming signals are emerging

Last week, the cryptocurrency market experienced intense volatility, with Bitcoin plummeting from around $70,000 to $60,000 in a short period, triggering the largest "realized loss" event in history. On-chain analysis platform Glassnode shows that the adjusted realized losses reached as high as $3.2 billion, setting a new record for the Bitcoin network. This metric measures the USD value of Bitcoin sold below cost and excludes the impact of transfers within the same entity, thus providing a more accurate reflection of genuine selling pressure. This figure even exceeds the approximately $2.7 billion loss during the 2022 LUNA collapse, indicating that the current downward sentiment shock has surpassed the darkest phase previously experienced. Data platform Checkonchain pointed out that this market movement exhibits typical "capitulation sell-off" characteristics: rapid decline, large transaction volumes, mainly driven by holders with the weakest conviction being forced to liquidate.

A trader opened a new Bitcoin short position with a size of $6.7 million, after previously losing $3.2 million from shorting Bitcoin.

PANews February 12 News, according to Lookonchain monitoring, trader 0x4321, who previously lost $3.2 million from shorting BTC, has reappeared after more than 2 months of silence. He has just opened a 10x leveraged short position with 99 BTC (worth $6.7 million). Liquidation price: $76,202.53.