On-chain analyst Darkfost reported on the 29th that the realized market cap of Bitcoin's short-term holders (STH) has decreased by approximately 62% from its peak in October 2025. He cites data from CryptoQuant.com and analyst Axel Adler Jr.
The cumulative losses realized by short-term holders have reached a level that can no longer be ignored. The realized market cap refers to the total market value of the coins at the time they were last moved...
