#BTCBackto100K Bitcoin BTC $103,011 is setting new all-time highs in network value as BTC price action eyes a return to six figures. Data from onchain analytics platform CryptoQuant confirms new record highs for Bitcoin’s realized cap. Bitcoin realized cap reflects “growing conviction”

Bitcoin is worth more than ever in US dollar terms if its market cap is measured by the value at which the extant supply last moved onchain. Known as realized cap, this figure has seen continued all-time highs since mid-April as BTC/USD stages a sustained recovery, and as of May 7 stood at $891 billion. “Bitcoin has experienced a steady flow of capital inflows in recent weeks, reflecting renewed interest from investors,” CryptoQuant contributor Carmelo Alemán said in one of its on May 7. Alemán argued that the realized cap uptrend reflects a long-term market shift across the Bitcoin investor spectrum.

“This new all-time high in Realized Cap not only reflects a surge in invested capital but also a growing conviction in Bitcoin’s long-term potential as a financial asset,” the post concluded.