Bitcoin has taken a downturn, falling below $62,000 for the first time since early February, signaling a substantial shift in investor sentiment. The crypto giant has experienced more than a 14% weekly loss, now trading over 50% lower than its peak in October. Indeed, short-term holders have been hit hard. Data from CheckOnChain indicates their realized profit and loss ratio has dipped to negative 1.5, an unprecedented low for this group. This measure evaluates whether short-term traders, those holding assets for less than 155 days, are generally selling at a gain or loss. Current readings suggest that selling at a loss dominates.