**[Analysis: Last Week's Crash Led to Bitcoin's Largest Realized Loss in History, Bottoming Signals Gradually Emerging]** According to a report by Jinse Finance, last week's market downturn resulted in Bitcoin's largest realized loss in history, breaking previous records. On February 5, Bitcoin's price dropped from $70,000 to $60,000. Data from Glassnode shows that the Entity-Adjusted Realized Loss reached $3.2 billion. This metric specifically tracks the USD value of Bitcoin sold below its purchase price, excluding internal transfers within the same entity. This massive sell-off even surpassed the darkest periods of 2022, exceeding the $2.7 billion loss during that year's market crash. According to data platform Checkonchain: "Last week's Bitcoin sell-off exhibited classic characteristics of 'capitulation': it occurred rapidly, involved high trading volumes, and locked in losses for low-confidence holders."