Bitcoin traders are facing losses similar to a bear market, with a new report suggesting a return to profit could take months. Onchain analytics platform, CryptoQuant, reveals that Bitcoin whales have distributed coins worth $1 billion in July alone, indicating new and large investors are realizing losses. Traders are currently sitting on unrealized losses of 17%, the most since the last Bitcoin bear market in December 2022. Miners are also struggling to break even, with large-size miners having sold about $300M since June 20. CryptoQuant CEO, Ki-Young Ju, advises to stay long-term bullish but avoid excessive risk.