Bitcoin Realized Cap Hits All-Time High, BTC Price Rally to Resume?

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Bitcoin Realized Cap Hits All-Time High, BTC Price Rally to Resume?

The world’s largest cryptocurrency Bitcoin (BTC) has been recently under some selling pressure correcting more than 10% since its all-time high in March. However, the positive development is that the Bitcoin realized cap has touched a new all-time high as capital inflows into BTC continue at an unprecedented rate.

Glassnode, an on-chain analytics platform sheds light on the ‘realized cap’ of Bitcoin. The realized cap for a cryptocurrency basically evaluates the total value of the asset considering that each coin’s value in circulation is equal to its price during the last blockchain transactions, instead of the current spot price.

This approach takes into consideration the cost basis of all circulating coins since the latest transaction typically involves a sale. As a result, the Realized Cap provides insights into the overall capital invested by investors in acquiring Bitcoin. The below chart throws some light on the BTC realized cap over the past few years.

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Bitcoin Realized Cap Hits All-Time High, BTC Price Rally to Resume?