Bitcoin (BTC) price dropped to $76,500 on Monday, erasing nearly all of this month’s gains as fresh US-Iran war tensions soured the crypto market sentiment. This has led investors and traders to reevaluate their risks and stay cautious, with many recent buyers selling their BTC at a loss.
Key takeaways:
Bitcoin short-term holders sold over 10,000 BTC worth approximately $770 million at a loss on Monday.Analysts agree that pushing Bitcoin’s price below $76,000 could trigger a fresh downtrend toward $65,000-$70,000.
Bitcoin’s “weak hands” realizing losses
Bitcoin has retraced 7% from its local high of $82,800 set on May 6. The rejection from the 200-day moving averages at $82,000, the daily close below the true market mean, and the short-term holder cost basis around $78,000 have cemented a more risk-off stance among Bitcoin investors.
Related: Bitcoin’s trend-defining battle starts at $74K support: Analyst
Onchain data from CryptoQuant showed that more than 10,000 BTC were transferred by short-term holders — investors who have held the asset for less than 155 days — to Binance at a loss on Monday.
These moves occurred with Bitcoin at roughly $76,900, about 2% below their average purchase price of $78,440, suggesting that recent buyers sent approximately $769 million in BTC to Binance at a loss.
This “reflects short-term holder stress, forced selling, or capitulation from weaker hands during a correction,” CryptoQuant analyst Amr Tah said in a QuickTake post on Tuesday.
Bitcoin: Transfer volume by STH in loss to Binance. Source: CryptoQuant
This activity underscores a familiar pattern of short-term speculators panic-selling during market dips, frequently realizing losses.
A similar occurrence in mid-November 2025 preceded a 15% BTC price decline to $78,400 from $96,000 in less than five days.
Additional data from Glassnode shows that more than “7.8M BTC are currently held at a loss,” a supply overhang that the market would need to “absorb before any sustained move higher becomes structurally credible.”
BTC total supply in loss. Source: Glassnode
Also accompanying Bitcoin’s slump are heavy outflows…
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