Bitcoin Holders See First 30-Day Realized Losses Since Late 2023

Bitcoin holders have realized net losses over 30 days, marking the first such stretch since late 2023, after more than two years dominated by realized profits.

According to data shared by Julio Moreno, head of research at CryptoQuant, the Bitcoin (BTC) rolling 30-day realized profit and loss metric has dipped below zero, indicating that coins moved onchain during the past month were sold at below their purchase cost.

“Bitcoin holders realizing losses, for a 30-day period since, late December for the first time since October 2023,” Moreno wrote on X.

The net realized profit/loss metric shows the net magnitude of profit or loss realized by all holders spending coins, according to CryptoQuant. A negative reading does not necessarily imply a price decline, but rather suggests that selling pressure is increasingly coming from holders who bought at higher levels.

Related: Bitcoin institutional demand remains strong: CryptoQuant

Gold hits record high as global tensions rise

Amid the renewed pressure on Bitcoin and digital assets, gold has surged past $4,700 per ounce for the first time as rising geopolitical tensions continue to push investors toward traditional safe-haven assets.

On Tuesday, spot gold climbed to an all-time high of $4,701.23 before easing slightly, while US gold futures also set fresh records. Silver followed closely, trading near historic highs after briefly touching $94.72 per ounce.

The rally in precious metals came as global sentiment deteriorated following fresh tariff threats from US President Donald Trump, who warned of new trade measures against European allies unless Denmark agreed to cede Greenland, reviving concerns about a broader trade conflict.

The diverging performance has dragged the Bitcoin-to-gold ratio sharply lower, down more than 50% from its F4peak, according to Bitfinex. “Last time we were here, BTC went on to outperform gold. Worth watching this cross as 2026 liquidity builds,” the analyst wrote on X.

Related: Bitcoin down, gold futures up as Europe threatens ‘trade bazooka’

Spot Bitcoin ETFs bleed amid rising tensions

US-listed spot Bitcoin exchange-traded funds (ETFs) also recorded $394.7 million in net outflows on Monday, according to data from SoSoValue, snapping a four-day inflow streak that had brought more than $1.8 billion into the products.

“President Trump’s aggressive trading rhetoric is pushing the market back into full de-risking mode,” Valr co-founder and CEO Farzam Ehsani said in a recent note shared with Cointelegraph.

Ehsani added that tariff threats and retaliatory measures have historically created “significant headwinds for digital and other risk assets.”

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