Bitcoin Falls to $81,000 as Large Holders Continue Distribution Since Q4

Bitcoin dropped to $81,000 following a November 21 event that recorded approximately $3 billion in Net Realized Profit/Loss, the largest net swing since the 2023 bear market. On-chain data show large holders have been distributing BTC since Q4 began, contributing to muted buying pressure and preventing a sustained recovery despite the asset reaching $126,000 just days before the October correction.