- A major capitulation event
- More pain?
The cryptocurrency market is reeling from one of the most violent capitulation events in its history.
On-chain data confirms that Feb. 5 will go down as a historic day of pain for digital asset holders
According to analytics firm CryptoQuant, investors locked in a staggering $3.2 billion in realized losses in a single 24-hour period.
HOT Stories
Bitcoin Just Witnessed One of Largest Capitulation Events Ever
U.Today Crypto Digest: Ripple CEO Calls XRP “Heartbeat” of Company, Shiba Inu Drops to Lowest Level Since 2023, Bitcoin Price Rallies After US Jobs Report
A major capitulation event
The metric tracks the net dollar value of all coins moved on-chain compared to the price at which they were last moved
The massive red bars indicate periods where investors are predominantly selling at a loss.
Over the last week, the market has realized an average of $2.3 billion in losses every single day.
As noted by the analyst, this magnitude places the current crash in the “top 3-5 loss events ever recorded.”
The chart allows us to compare the 2026 spike against Bitcoin’s most infamous crashes
May 2021 (the China ban) is the tallest red spike on the chart. This occurred when Bitcoin dropped from $60,000 to $30,999 following China’s mining ban
The Terra/Luna & 3AC Collapse was the second cluster of massive red bars. This was a credit crisis that forced institutional giants to liquidate assets at depressed prices.
The FTX explosion marked yet another wider spike. The psychological capitulation was extreme, with Bitcoin collapsing to just $15,000.
The February 2026 event is visually comparable to the June 2022 deleveraging event
More pain?
Despite the severity of the capitulation, the worst might not be over for members of the cryptocurrency community. Standard Chartered has issued a cautionary note to cryptocurrency investors, warning that the market is poised for a significant correction.
Standard Chartered believes Bitcoin could slide as low as $50,000, with Ether potentially tumbling to $1,400.
Kendrick argues that the macro environment is flashing warning signs. The softening U.S. economy, delayed risk cuts, and ETF outflows could jointly contribute to lower cryptocurrency prices
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 15
Gate News message, according to the April 15 update, Bitcoin ETFs recorded a single-day net inflow of 4,566 BTC (approximately $337.41 million) and a 7-day net inflow of 6,753 BTC (approximately $499.04 million). Ethereum ETFs saw a single-day net inflow of 23,405 ETH (approximately $54.37 million)
GateNews26m ago
BTC 15-minute drop of 0.70%: Increased ETF fund outflows and a coordinated sell-pressure trigger from derivatives position adjustments
From 2026-04-15 13:30 to 13:45 (UTC), the BTC price fluctuated within the range of 73,846.3 to 74,415.9 USDT. Within 15 minutes, the return recorded -0.70%, with an amplitude of 0.77%. During this period, market volatility intensified, trading volume and on-chain transfers heated up significantly, and market participants’ risk sensitivity increased.
The main driving force behind this unusual move was a sharp increase in ETF fund outflows. Data shows that on 2026-04-13, U.S. spot Bitcoin ETFs recorded net outflows of -231.7 million dollars, far above the one-week average
GateNews36m ago
Canaan Creative Reports 89 BTC Mining Output in March, Holdings Reach 1,808 BTC
Canaan Creative reported producing 89 BTC in March 2023, with total holdings of 1,808 BTC and 3,952 ETH. The company increased its global mining capacity by over 10 megawatts, reaching a total of 266.3 megawatts.
GateNews51m ago
Strive Raises SATA Dividend to 13%, Adds 27 Bitcoin to Bring Total Holdings to 13,768 BTC
Strive, a Nasdaq-listed bitcoin treasury company, is raising its Series A Preferred Stock dividend to 13.00%. It also acquired 27 additional bitcoins, totaling 13,768 BTC, ensuring dividend payments can be supported for about 19.6 years.
GateNews1h ago
BlackRock Transfers 15,101 ETH and 566 BTC to Major CEX, Worth $75.96M
BlackRock recently transferred over $35 million in ETH and $41 million in BTC through its ETFs to a major CEX, totaling nearly $76 million in value.
GateNews2h ago
Bitcoin, Ether ETFs See Nearly $1 Billion in Weekly Inflows
Bitcoin and ether ETFs reclaimed positive territory after recent volatility with combined inflows of $973 million. XRP quietly gained ground, while solana slipped into outflows.
Key Takeaways
Bitcoin ETFs gained $786 million and ether $187 million from April 6–10, led by Blackrock IBIT
Coinpedia2h ago
