Amidst the cacophony of digital currencies, Bitcoin has once again ascended to the heavens, breaking the $112,000 barrier with a flourish. But is this merely a mirage, a fleeting spectacle in the desert of speculative investments? Fear not, for the on-chain data suggests otherwise, with a robust $4.4 billion in inflows backing the move. 🌟
Bitcoin’s Realized Cap: A Beacon of Conviction
On the hallowed grounds of X, the esteemed on-chain analytics firm Glassnode has shed light on the latest trend in Bitcoin’s “Realized Cap.” This arcane metric, dear reader, is a capitalization model that eschews the simplicity of the market cap, instead opting for a more nuanced approach. It calculates the total value of Bitcoin by assuming that the ‘true’ value of each coin is the price at which it last changed hands on the network. 📊
Contrary to the market cap, which assigns the same value to all tokens based on the current spot price, the Realized Cap reflects the actual capital inflows—rising only when coins move at higher prices. In essence, it’s a measure of the total investment the collective holders have poured into the cryptocurrency. 🤑
As the Bitcoin market cap surged with the latest price record, the Realized Cap, too, saw a significant uptick. Glassnode’s chart, a veritable masterpiece of data visualization, reveals the steady upward trajectory of the Realized Cap, culminating in a $4.4 billion influx. 📈
“The $4.4B jump as $BTC broke a new ATH above $112K confirms real conviction behind the move, not just speculative markup,” Glassnode proclaims, with the air of a seasoned market sage. 📜
In a related development, the Bitcoin Market Value to Realized Value (MVRV) Ratio currently hovers around 2.25, as noted by the insightful CryptoQuant author Axel Adler Jr. The MVRV Ratio, a measure of the ratio between the Bitcoin market cap and Realized Cap, has historically indicated resistance when it reaches 2.75. 🛑
At the current trajectory, the 2.75 level corresponds to a spot price of $130,900. “This will essentially be the first selling pressure point,” Adler Jr. warns, with the gravitas of a prophet foretelling the future. 🌪️
BTC Price: A Brief Retreat
Despite its meteoric rise, Bitcoin has experienced a slight pullback, with its price settling at $110,900. But fear not, for the underlying fundamentals remain strong, and the journey to the stars continues. 🚀
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2025-07-11 01:17