Bitcoin is approaching real bear market levels 📉
April 03, 2026
In the Bitcoin market, the number of coins being held at a loss is rising again. According to CryptoQuant data, around 8.2 million BTC are currently in loss. For the market, this is already a noticeable signal, because such values are bringing the current phase closer to levels that are usually associated with a full bear market, although there is still some distance from the scale of 2022.
What happened
CryptoQuant analysts note that the volume of BTC in profit has decreased, while the number of coins in loss has grown noticeably. This is exactly what reinforces the feeling that the market is entering a more difficult phase. For now, this is not a full repeat of the previous cycle, but the pressure already looks serious.
Why this is still not full capitulation
Despite the growth in the amount of BTC in loss, the current situation still does not reach the worst levels of the previous bear market. In other words, the market already looks weak, but it is not yet at the point where one can speak of a maximum phase of seller exhaustion.
- there are already around 8.2 million BTC in loss
- this is a lot, but it is still less than during the 2022 bear market
- the market looks weak, but it is not at the point of full capitulation
What this means for the market
This picture can be read in two ways. On the one hand, a larger number of coins in loss means a higher level of tension and a risk of further selling into weakness. On the other — moving closer to the levels of previous cycles may mean that Bitcoin is getting closer to the zone where the market begins to look for a bottom.
Conclusion
The situation with 8.2 million BTC in loss shows a simple thing: pressure on the market is increasing, and Bitcoin is getting closer and closer to levels that were historically seen in real bear markets. But for now, this is still not a one-to-one repeat of 2022. For the market, this is rather a signal to watch seller behavior more closely and whether the stress phase may begin to shift into a deeper capitulation.