Bitcoin continues to demonstrate strong bullish signals as its realized capitalization surged by over $3 billion in a single day, reflecting renewed investor accumulation amid improving macroeconomic conditions. This growth marks a 0.33% increase in the total capital invested in the world’s largest cryptocurrency, currently trading around $106,574, just 2% shy of its all-time high near $109,000 reached earlier this year.
Macroeconomic Boost Fuels Bitcoin Rally
The broader crypto market’s positive momentum is partly attributed to easing tensions between the United States and China, two economic powerhouses. Recent tariff reductions — with the US lowering rates from 145% to 30%, and China cutting from 125% to 10% over 90 days — have sparked optimism among investors. These policy changes have encouraged risk-on sentiment, further boosting Bitcoin and other cryptocurrencies.
Realized Cap Highlights Long-Term Confidence
Bitcoin’s realized cap, which measures the total value of BTC based on the last on-chain transaction price for each coin, is a key metric tracked by analysts to assess market health. CryptoQuant contributor Carmelo Alemán pointed out that this metric’s sharp rise signals ongoing capital inflows and a robust accumulation phase.
Alemán’s analysis reveals a recurring cycle since April, where Bitcoin experiences sharp upward price movements followed by sideways consolidations lasting 8 to 10 days. This pattern creates a staircase-like chart, indicating incremental gains with growing investor confidence at each step.
On-Chain Metrics Suggest Strong Positioning for Further Gains
The increase in realized cap suggests that new buyers are entering the market at progressively higher prices, raising the aggregate cost basis and reinforcing long-term conviction rather than speculative trading.
Historically, spikes in realized capitalization during consolidation phases have preceded significant price rallies. Alemán notes that current on-chain trends mirror those of previous bull cycles, positioning Bitcoin for a potential continuation of its upward trajectory, especially around the key psychological resistance zone between $106,000 and $109,000.
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