Bitcoin realized cap hits $906B, hints at new all-time high despite todays pullback
Bitcoins realized capitalization has reached a new peak of $906 billion, marking its fourth consecutive weekly high, per CryptoQuants data.
Unlike traditional market cap, which multiplies current price by circulating supply, realized market capitalization calculates the value of each coin at its last transaction price. This offers a clearer view of capital committed to the network, excluding idle or lost coins from the equation.
CryptoQuant analyst Carmelo Alemán noted that Bitcoin has been trading sideways for the past 10 days, hovering near a key resistance level at $104,731.
During this period, realized capitalization rose over $14 billion from $891.7 billion to $906 billion. That marks a 1.61% gain in just over a week, signaling sustained accumulation and growing investor confidence.
Alemán believes that once Bitcoin scales this resistance, it could move swiftly toward the next target at $107,757. He added that clearing that level could open the door to a fresh all-time high in BTCs price.
He said:
If the trend of increasing Realized Capitalization continues, suggesting ongoing investor confidence in Bitcoin, it is very likely that Bitcoin will surpass its ATH in the near future. This could set the stage for a historic bull run.
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Text source: CryptoSlate
