#BTCBreaks99K

Bitcoin is currently trading at approximately $100,000, having seen a sideways trend in recent weeks. The asset is trading at $97,005 at the time of writing this report, recording a slight increase of 2.6% over the past seven days and a rise of 3.3% over the past twenty-four hours.

Although volatility remains low, new on-chain data shows a steady increase in investor activity, indicating potential future price movements.

Bitcoin investor confidence is reflected in on-chain metrics.

Notable contributor Carmelo Aleman from CryptoQuant highlighted a persistent pattern indicating ongoing interest from investors. Aleman pointed out in a recent article published on QuickTake that the realized cap of Bitcoin - which shows the total value of coins based on their latest movements - has peaked for the third consecutive time.

By calculating the output of each unspent transaction (UTXO) at its purchase price, this metric - which shows the increase in capital entering the asset - has risen to $890.7 billion.

Aleman claims that both long-term and short-term Bitcoin holders are showing continuous accumulation based on their ongoing rise in realized cap.

The increase in spent funds in Bitcoin over the past few weeks suggests that market players are positioning themselves for a price breakout.