Bitcoin Realized Cap Hits New High Amidst Price Rally
The Bitcoin Realized Cap has reached a new all-time high, indicating the total amount of investment made in the cryptocurrency. Unlike market cap, which calculates the total valuation of an asset based on its current spot value, the Realized Cap values each coin at its last movement’s spot price. This metric provides an estimate of the capital used by holders to purchase Bitcoin. The Realized Cap has surged alongside the recent rally in Bitcoin’s price, surpassing its previous ATH and setting a fresh record.
Bitcoin Investor Cohorts Show Aggressive Accumulation Behavior
Analyst James Van Straten highlights that Bitcoin investor cohorts are exhibiting aggressive accumulation behavior. The Accumulation Trend Score from Glassnode reveals that the net balance change in addresses across all cohorts has become positive, as indicated by the graph turning blue. This aggressive accumulation has been observed during three instances since November 2022, with the first occurring during the cycle low and the second coinciding with ETF speculation in October 2023. This ongoing accumulation contributes to the upward trajectory of Bitcoin’s Realized Cap.
Bitcoin Price Update
Currently, Bitcoin is trading at approximately $62,900, experiencing a more than 22% increase over the past week.
[Insert Bitcoin Price Chart]Hot Take: Bitcoin Realized Cap Reaches New High Amidst Aggressive Accumulation
The Bitcoin Realized Cap has achieved a new ATH, reflecting the significant investment made in Bitcoin. This metric values each coin at its last movement’s spot price, providing insight into capital allocation by holders. The recent surge in Bitcoin’s price has propelled the Realized Cap to surpass its previous high, indicating increased capital locked into the cryptocurrency.
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