World Crypto Global Official Site | bitcoin realized cap

Author: Hououin Kyouma

Bitcoin Now Under Realized Price For 163 Days, Here’s How This Compares Historically

On-chain data shows Bitcoin has now been below its realized price for 163 days in this bear market; here’s how this compares with previous cycles. Bitcoin Realized Price Is Currently Valued At Around $19,900 According to CryptoQuant’s year-end dashboard release, the bear market would be over if BTC reclaims this level. To understand what the “realized price” is, the “realized cap” must be looked at first. The realized cap is a capitalization model for Bitcoin that aims to provide a sort of “real value” for the crypto. Unlike the usual market cap, which simply values each coin in circulation using the current BTC price, the realized cap prices each token at the same price it was last moved. For example, if 1 BTC was bought at $20,000, but the price has now changed to $16,000, the market cap will consider it valued at $16,000. The realized cap, however, will say its true value is $20,000. Now, if the total realized cap of Bitcoin is divided by the total number of coins in circulation, a “realized price” is obtained. This price signifies the cost-basis of the average coin in the market (that is, the price at which investors acquired the average coin at). Here is a chart that shows the trend in the BTC realized price over the entire history of the asset: The BTC price seems to have been below this metric in recent months | Source: CryptoQuant As the above graph displays, the normal price of Bitcoin has been below the realized price for a while now. Historically, BTC has spent very little time in this region, as only the worst phases of a bear market usually pull the coin below the level. From the chart, it’s apparent that In the 2011-2012 bear market, BTC spent 158 days under the realized price. Then, in 2014-2015, the coin spent a whopping 276 days in this zone. Related Reading: Bitcoin Interexchange Flow Pulse About To Reverse, What Does It Mean? The 2018-2019 bear saw the shortest amount of time in the region, as the price took 134 days to pull itself above the level. Finally, Bitcoin has been trapped under the realized price for 163 days in the current cycle. This means that BTC has spent more time in this region in the current bear market than in any other before, except for 2014-2015. If the current bear is comparable to 2014-2015, then it would mean there is still more than 100 days to go before Bitcoin can exit the zone. Related Reading: Litecoin Bullish Signal: Shark And Whale Addresses Hit 2-Year High Either way, CryptoQuant expects the crypto to reclaim this level somewhere in 2023, and it will be then that this bear may be considered to be over. BTC Price At the time of writing, Bitcoin’s price floats around $16,600, down 1% in the last week. BTC has declined in the last two days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time

Author: Opeyemi Sule

United Kingdom

Source: NewsBTC

Nov 10, 2024 12:05

Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time

The Bitcoin price and the entire crypto market have been on a tear since the outcome of the United States elections was announced in the early hours of Wednesday, November 6. The premier cryptocurrency specifically has breached and printed new all-time high prices over the past few days. Interestingly, the price of BTC has shown no signs of weakness going into the weekend, with the market leader forging a new record high above $77,000 on Friday, November 8. While the hot streak of the Bitcoin price can be attributed to the latest victory of former president Donald Trump in the US, on-chain data suggests that this rally has been a long time coming. BTCs Realized Cap Experiences Largest Increase In Two Years One of the latest on-chain metrics to offer an interesting insight into the meteoric rise of Bitcoins price is the realized cap indicator. In a November 8 post on the X platform, blockchain analytics firm Glassnode revealed that Bitcoins realized cap recently reached a new all-time high of $656 billion. Related Reading: Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish For clarity, the realized cap metric measured the value of each Bitcoin as at the last time they were transacted. This offers a more interesting way to evaluate the cost basis (the time in which the coins changed hands) as opposed to the regular market capitalization, which is derived by multiplying the total number of circulating coins by the current market price. Data from Glassnode shows that the Bitcoin realized cap witnessed a 3.8% upswing in the past 30 days, which represents one of the metrics largest increases since January 2023. As shown in the chart below, this metric has been experiencing positive growth since the start of the year, as the 30-day net change has mostly been green. It is worth mentioning that the realized cap metric also represents the amount of capital flowing in and out of the flagship cryptocurrency. The latest increase reflects a net capital inflow of over $2.5 billion in the past month, suggesting the entry of new investors both retail and institutional investors. With the realized cap and Bitcoin price consolidating over the past few months, a sudden increase of the former to $656 billion suggests that the premier cryptocurrency might be moving from the reaccumulation phase to a markup phase. Ultimately, a continuation of the capital inflow trend could sustain the increase in the Bitcoin price over the next couple of months. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is valued at around $76,700, having lost its hold above the historical $77,000 level. According to CoinGecko data, the market leader is up by an impressive 10% in the past week. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? Featured image created by Dall.E, chart from TradingView

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Bitcoin Whales Are Going Through A Generational Shift, CryptoQuant CEO Reveals

Author: Keshav Verma

United Kingdom

Source: NewsBTC

Oct 10, 2024 12:05

Bitcoin Whales Are Going Through A Generational Shift, CryptoQuant CEO Reveals

The CEO of the on-chain analytics firm CryptoQuant has explained how the Bitcoin whales have been showing a shift in their Realized Cap recently. New Bitcoin Whales Are About To Overtake Old Ones In a new post on X, CryptoQuant CEO Ki Young Ju has discussed the recent trend in the Realized Caps of the new and old Bitcoin whales. The “Realized Cap” here is a model that calculates the total valuation of Bitcoin by assuming that each coin’s ‘true’ value in circulation is the price at which it was last transferred or sold on the blockchain. The last transfer of any coin is likely the last point at which it changes hands, so the price at its time could be equated to its current cost basis. As such, the Realized Cap measures the sum of the cost basis of the BTC supply. Or, put another way, this metric keeps track of the total amount of capital the investors have put into BTC. Related Reading: Bitcoin Supply In Loss Nears 20%: Could This Trigger A Fresh Surge? In the context of the current topic, the version of the Realized Cap that’s of interest is limited to just two segments of the market: the new and old whales. Whales refer to entities carrying more than 1,000 coins in their wallets. This cohort is divided into two based on age using a 155-day cutoff. All whales bought within the past five months belong to the short-term holder or new whale cohort, while those who have been holding for longer than this duration are called the long-term holder or old whales. Now, here is a chart that shows the trend in the relative percentages of the Realized Cap contributed by these two Bitcoin groups: As the above graph shows, the Realized Cap of the new Bitcoin whales wasn’t anything significant before 2018, indicating that veteran capital was king on the network. Following 2018, though, the percentage dominance of this group gradually started to show an improvement. And this year, the growth in the Realized Cap of this cohort has blown up, with the metric’s value now sitting at $108 billion. For perspective, the indicator is standing at $113 billion for the old whales, which suggests the disparity between the two almost nonexistent. “Bitcoin whales are experiencing a generational shift,” notes Young Ju, based on this trend. “Realized Cap of new whales is expected to surpass that of older whales soon.” Related Reading: Bitcoin Investors Not Sold On Uptober As Sentiment Remains Neutral As for the sudden sharp growth in the Realized Cap of the new whales, it’s likely that the inflows into the spot exchange-traded funds (ETFs) have been falling in this category. BTC Price At the time of writing, Bitcoin is trading at around $62,200, down more than 2% over the past week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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