Bitcoin experienced a significant surge in loss transfers from short-term holders (STHs), reaching a new high of over 68,500 coins within a single 24-hour period. This pattern marks a rapid escalation of selling pressure, particularly from newer market participants who have been exiting at a faster rate than usual. The sharp price decline during this time suggests these transfers were made during periods of increased market stress. 68,500 BTC represents an approximate value of $5.7 billion based on current market prices. Notably, the recent loss transfers align with a growing trend of heavy selling among STHs observed in the past few days. The data further suggests that this wave of losses is driven by rapid capitulation behavior from investors who bought near recent highs. This is evident in the consistent increase in STH loss transfers, culminating in the 68,500 BTC mark on November 22nd. While this trend indicates potential bearish pressure, the long-term impact and future direction of Bitcoin remain to be seen.