Alemán argued that the realized cap uptrend reflects a long-term market shift across the Bitcoin investor spectrum.“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,” the post concluded. “With sustained accumulation from both LTHs and STHs, the market appears to be building a solid foundation for a potentially significant price breakout.
In the latest edition of its regular newsletter, “The Week Onchain,” research firm Glassnode nonetheless argues that buy and sell-side conditions are balanced at around $100,000.“A surge in profit taking can be observed in recent weeks, with the recent rally drawing in over $1B/day in net capital inflows,” it wrote. “This points to initial indicators of a return of demand-side strength, allowing sellers to lock in profits, and speaking to buyers willing to pick up coins at the current market price.
Known as realized cap, this figure has seen continued all-time highs since mid-April as BTC/USD stages a sustained recovery, and as of May 7 stood at $891 billion.“Bitcoin has experienced a steady flow of capital inflows in recent weeks, reflecting renewed interest from investors,” CryptoQuant contributor Carmelo Alemán summarized in one of its “Quicktake” blog posts on May 7.
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Author / Journalist: Cointelegraph by William Suberg
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