# BTC: Realized Loss Analysis 

_How do losses in 2026 stack up against prior bear markets?_

May 27, 2026 • Michael Nadeau

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# BTC: Realized Loss Analysis

## How do losses in 2026 stack up against prior bear markets?

Michael Nadeau
 May 27, 2026

 Hello readers,

 Historically, BTC leads, and alts follow.

 That’s notable, given that BTC is *still *up 26% from its February 5th lows. Momentum has slowed. But we’re now seeing a mini “altseason” amongst select coins.

 Is this confirmation that the regime is shifting? Are the animal spirits coming back?

 Or is the recent shift in sentiment a “headfake?”

 We explore in this week’s edition of TDR Pro.

 Topics covered:

- [BTC Realized Loss Analysis](#btc-realized-loss-analysis)

- [Current Conditions Update](#current-conditions-update)

- [Views on Macro](#views-on-macro)

- [Closing Thoughts & Portfolio Management](#closing-thoughts-portfolio-manageme)

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# BTC Realized Loss Analysis

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