According to a report by CryptoQuant on Thursday, analyst IT Tech stated that Bitcoin has experienced a seven-day average net loss of $2.3 billion, calling it "one of the largest panic sell-offs in Bitcoin history, comparable to the 2021 crash, the 2022 Luna/FTX collapse, and the mid-2024 correction." "This level of loss ranks among the top 3 to 5 in history," the analyst added, "There have only been a few instances of such panic selling in Bitcoin's history." OKX data shows that Bitcoin has plummeted nearly 50% from its all-time high of over $126,000 last October, currently trading around $66,600; it had previously rebounded after hitting a low of $60,000 on February 6th.