As accumulation keeps on, Bitcoin's realized cap reaches record high

Currently trading just around the $100,000 psychological level, Bitcoin has a sideways path in recent weeks. The asset trades at $97,005 at the time of writing, showing a little 2.6% rise over the previous seven days and a 3.3% increase in the last twenty-four hours.

Although volatility is still low, new on-chain data shows a consistent increase in investor activity that would suggest future price movement.

Confidence of Bitcoin Investors Reflected in On-Chain Measures

Contributor Carmelo Alemán of CryptoQuant has highlighted a continuing pattern suggesting constant investor interest. Alemán pointed out in a recent QuickTake article that the Realized Cap of Bitcoin—which shows the total worth of coins depending on their latest movement—has peaked for the third running.

Calculated by multiplying each unspent transaction output (UTXO) by its purchase price, the metric—which shows rising capital input into the asset—rose to $890.7 billion.

Alemán claims that both long-term and short-term holders of Bitcoin show a continuous accumulation based on their persistent ascent in their realized cap.

The more money spent in Bitcoin over the last several weeks points to market players setting themselves for a possible price break-through. If constant investment persists, this pattern of capital inflow might be preparing the foundation for a more robust bullish phase.

Appearing to be raising their stakes during this consolidation phase are Long-Term Holders (LTHs) and Short-Term Holders (STHs). Alemán underlined that the growing Realized Cap conveys market belief, thereby transcending mere reflection of price.

When combined with consistent accumulation patterns, the indicator shows a rising conviction in the longer-term value proposition of Bitcoin. Should previous trends recur, the market may be in early phases of creating a new upswing.

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