Recently, the founder of CryptoQuant, Ki Young Ju, pointed out a noteworthy point: the metric of Bitcoin's "realized market cap" has stalled after nearly two and a half years of continuous growth over the past month.

This data pause actually indicates a few things:

· The speed at which new money is coming in has slowed down, and the capital flow on the chain isn't as vigorous anymore.

· The market's ability to absorb new funds is somewhat lagging compared to before.

According to his assessment, the market might not necessarily turn downward immediately, but Bitcoin does feel a bit "out of breath" in the short term, and it may take a few months to regain strength.

In simple terms, after running so hard for so long, the market might need to catch its breath and take a break.

(The market carries risks; investment should be cautious.)