Bitcoin Realized Cap Sets New Record, But Momentum Fades
Summary
Bitcoin's Realized Cap has reached a new all-time high of $872 billion, according to on-chain data from Glassnode. The Realized Cap measures Bitcoin's total value based on the last transaction price of each token in circulation. Although the Realized Cap is increasing, the growth rate of monthly inflows has significantly slowed, dropping from 13% in December to 0.9% currently. This slowdown may indicate a softening investor appetite and a risk-off sentiment. Previous periods of high inflows were associated with bull rallies, while the current decline has led to a price drawdown. Bitcoin's price has stabilized around $84,700 recently.
