Bitcoin's Brutal Slide: Older Coins Now Feeling the Heat

New Data Reveals Shocking Shift in Sell-Off Dynamics

Hang onto your hats, crypto fans! Bitcoin's been on a wild ride, and it's not just the newbies feeling the burn anymore. The latest scoop from Glassnode shows that the sell-off pressure is now hitting the older coins hard, with a slow but steady capitulation spreading like wildfire across the market.

Yeah, you heard that right. Bitcoin's been taking a beating, dropping over 17% this year alone, with a gut-wrenching 9% plunge in the last week. Tariffs and economic uncertainty? They're hammering risk assets, and Bitcoin's no exception.

Get this: coins aged three to six months are now shouldering a whopping 19% of the realized losses. Back on Feb. 27, before the bear market vibes kicked in, that number was a measly 0.8%. Talk about a brutal shift!

Glassnode dropped the bomb on X, saying, "In comparison to previous large Bitcoin sell-offs YTD, losses are now spreading to older coins – especially in the 3m–6m group, whose share in loss realization jumped from 0.8% to 19.4% of total losses since Feb 27." Boom!

Their chart? It's like a rollercoaster, with the BTC realized loss by age metric skyrocketing in April. Buckle up!

At the end of February, the younger coins – those one week to one month and one month to three months old – were taking the brunt of the losses, accounting for over 50% of the total. But guess what? The tables have turned, and now the 3m–6m crew is feeling the pain big time.

This shift went into overdrive as BTC's price tanked from above $86,000 in late February. When it retested support below $75,000 in March, the 3m–6m holders started waving the white flag. By March 11, the 1m–3m group's share of losses had dropped to about 16.3%, while the 3m–6m cohort's rose to 4.9%.

Fast forward to Apr 7, and losses were split right down the middle between the 1w–1m and 3m–6m groups, each coughing up around 19%. That's a game-changer, folks, and it's putting the squeeze on those mid-term holders.

Here's the latest: $BTC is sitting at $78.9k, with realized losses hitting $34.4M. The 1w–1m group? They're down $8.2M (23.8%). The 1m–3m crew? They're feeling $6.5M (18.9%) of the pain...

Even though total BTC losses have eased up to around $41 million, Glassnode's on-chain data is screaming that the older cohorts are in the midst of a "gradual broadening of capitulation." As of early April, the 1w–1m and 3m–6m groups were each responsible for about 19% of the realized losses.

The analysts are calling it like they see it: "This marks a structural shift in loss realization and points to sustained pressure on mid-term holders." Ouch!

And just when you thought it couldn't get any worse, Bitcoin's down another 2% in the last 24 hours. Hold on tight, crypto warriors – this ride's far from over!