Bitcoin Realized Cap Hits Record $891B, Fueling Bullish Breakout Hopes

Bitcoin’s Realized Cap Nears $900B as Capital Inflows Signal Potential Breakout

  • Bitcoin’s realized cap approaches a record $900 billion as network value hits new highs.
  • Market analysis points to strong foundations for a potential major price breakout.
  • Ongoing profit-taking has not disrupted the overall upward momentum of the bull market.

Bitcoin has reached new milestones in network value, with its realized cap nearing $900 billion, according to recent data from CryptoQuant. This comes as Bitcoin’s price activity signals a possible return to six-figure levels, driven by steady investment and growing market participation.

- Advertisement -

The realized cap, a metric showing the value at which the current Bitcoin supply last changed hands on the blockchain, hit $891 billion as of May 7. CryptoQuant contributor Carmelo Alemán noted that “Bitcoin has experienced a steady flow of capital inflows in recent weeks, reflecting renewed interest from investors.” Alemán described the realized cap’s rise as evidence of long-term confidence in Bitcoin’s potential as a mainstream financial asset.

This sustained increase has persisted since mid-April as BTC/USD stages a comeback. “This new all-time high in Realized Cap not only reflects a surge in invested capital but also a growing conviction in Bitcoin’s long-term potential as a financial asset,” wrote Alemán in a Quicktake blog post.

Both long-term holders (LTHs) and short-term holders (STHs) have been accumulating Bitcoin, building what analytics suggest is a solid base for a potential breakout. Alemán stated, “With sustained accumulation from both LTHs and STHs, the market appears to be building a solid foundation for a potentially significant price breakout”.

Cointelegraph reported that the capital inflow surge began in 2023 and continues despite ongoing profit-taking. Although investors are recording profits averaging $1 billion per day, Glassnode’s latest newsletter, The Week Onchain, finds the market remains balanced. The report states, “A surge in profit taking can be observed in recent weeks, with the recent rally drawing in over $1 billion/day in net capital inflows.”

According to Glassnode, profit-motivated activity has dominated since October 2023, but fresh capital inflows continue to outpace outflows. This, Glassnode explains, is an encouraging signal for Bitcoin’s ongoing recovery.

This article does not contain investment advice or recommendations. Each investment move involves risk, and readers should conduct their own research before making decisions.

- Advertisement -

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest

Token Crashes Expose Dark Side of Crypto Market Making Deals

Sudden collapses of Movement Labs’ MOVE token and Mantra’s OM token caused major disruption in crypto market-making activities.Price drops exposed secret agreements, unclear token...

Nginx Default Error Page Displayed on Red Hat Enterprise Linux Site

A default error page was displayed on a website due to a missing webpage. The error page is the standard version included with nginx on...

Wellington Man Charged in $450M Global Crypto Fraud, FBI Says

A Wellington man was arrested in connection with a global cryptocurrency fraud case.The case involves the theft of $265 million and links to organized...

Paraguay Deports Three for Crypto Miner Theft Near Itaipu Dam

Paraguayan police deported three Chinese nationals and arrested a Paraguayan resident after an attempted crypto mining equipment theft. The incident took place at the Teratech...

Bitcoin Eyes $90K Support as Bull Flag Hints at Breakout Potential

Bitcoin is trading below its recent resistance near $104,000 to $105,000, with some investors expecting a pullback to $90,000. On-chain data shows that current profit...

Must Read

TOP 12 Day Trading Crypto Books For Beginners

Day trading cryptocurrencies has become an increasingly popular financial activity, offering the potential for huge returns to those who understand the market's complexities and...