Bitcoin Network Loses $33 Billion in Two Months as “Whales Have All Left”

▲ Bitcoin (BTC)

Approximately $33 billion in capital has flowed out of the Bitcoin (BTC) network over the past two months, shaking the very foundations of the market’s fundamentals.

According to cryptocurrency media outlet NewsBTC on February 24 (local time), Bitcoin’s realized market capitalization has declined by about $33 billion over the past two months, signaling sustained capital outflows. Realized market capitalization aggregates the price of each coin at the time it last moved and serves as a key metric for measuring the actual capital that has entered the network. This decline clearly shows that investors are locking in losses and exiting the market or withdrawing funds after taking profits.

The capital exodus has continued for two consecutive months, significantly dampening the vitality of the Bitcoin market. Data from on-chain analytics firm Glassnode indicates that the drop in realized market capitalization is among the most notable corrections the digital asset market has experienced recently. As Bitcoin’s price tests psychological support levels, the weakening of network capital strength has become a major factor reducing the defensive power of buying pressure.

Market analysts assess that such large-scale capital outflows could pose a significant obstacle to Bitcoin’s short-term price recovery. A decline in realized market capitalization signals that existing capital is leaving faster than new funds are entering. In particular, as institutional investors and large whales reduce their exposure for risk management purposes, overall network liquidity is drying up at an accelerated pace.

Amid growing macroeconomic uncertainty, some analysts suggest that Bitcoin’s investment appeal is not as strong as before. With interest rate volatility and policy risks coming to the forefront, investors tend to favor safe-haven assets or cash over highly volatile digital assets. Until capital outflows come to a halt and realized market capitalization returns to an upward trend, caution is warranted as Bitcoin may remain range-bound or face further downside.

The Bitcoin market now faces a critical test, having to withstand strong selling pressure amid stagnant capital inflows. The $33 billion decline in realized market capitalization is more than a numerical change—it is a warning sign that the network’s self-sustaining strength is weakening. Investors should closely monitor changes in on-chain liquidity indicators and maintain a conservative approach until the market direction becomes clearer.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.*