Analysts: This bear market has already resulted in losses of $174 billion, which has not yet exceeded the peak of the previous cycle.

According to Odaily Odaily, blockchain analyst Darkfost has compiled statistics on realized losses in the Bitcoin market (in USD) during past bear markets. Theoretically, as the total market capitalization continues to expand, the USD losses during bear markets should also continue to grow under similar market behavior. Data shows that during the 2014 bear market, the actual loss was only about $2.4 billion, when Bitcoin's market capitalization was about $6 billion to $8 billion; during the 2019 bear market, the actual loss increased to $60 billion. Since the current cycle peaked last October, the market has accumulated losses of approximately $174 billion. However, this figure has not yet broken records; the previous bear market saw accumulated losses of $211 billion. Darkfost believes this may mean there is still room for further market clearing, but this judgment remains highly subjective. If the bear market lasts for several months, the realized losses could exceed the levels of the previous cycle; however, as things stand, although this bear market has entered a deeper phase, the accumulated losses have not yet reached the historical high.