Data: Bitcoin whales and sharks lost over $300 million on average daily in Q1, with total realized losses exceeding $30.9 billion for the year.

Golden Finance reports that, according to Glassnode on-chain data, in Q1 2026, “sharks” holding 100–1,000 BTC and “giant whales” holding 1,000–10,000 BTC recorded average daily losses of about $188.5 million and $147.5 million, respectively, totaling about $337 million. Year-to-date, cumulative realized losses are already as high as $30.9 billion, nearing the level seen in the 2022 bear market.
The analysis indicates that the current selling pressure is coming from rising macro risks (inflation expectations, AI trading crowding, etc.) and weakening market sentiment, with large holders accelerating profit-taking and exiting. At the same time, long-term holders (LTH) still maintain average daily realized losses at a high level of around $200 million, suggesting that there has not been a clear “selling pressure exhaustion” in the market. Institutions believe that under multiple pressures, Bitcoin still faces further downside risk; some views expect that the potential bottom range could be between $40k and $50k.