#BulRun

Bullish Breakout Ahead?

Since the current range-bound phase began on May 8, $BTC has absorbed an additional $14.4 billion in new capital, which is a 1.61% increase in Realized Capitalization.

According to CryptoQuant’s latest report, this is an indicator of steady investor inflow. It further suggests that once Bitcoin decisively clears the $104,731 resistance level, the next target at $107,757 could come into play, which, in turn, could potentially open the door to a new all-time high.

Interestingly, driving much of this capital accumulation are large holders, with the 100-1,000 $BTC UTXO value bands increasing their combined holdings by 122,540 BTC over the past 10 days. This figure represented a 2.2% increase.

Institutional interest remains uneven, but BlackRock has emerged as the only major ETF to add to its Bitcoin holdings during this period, which has increased its balance by 10,302 BTC (1.66%) to 631,902 $BTC , while other funds have either trimmed exposure or held steady.

As such, CryptoQuant observed that the upward trend in Realized Capitalization signals market confidence. If the trend continues, it could support further price expansion and potentially catalyze a historic bull run.