Bitcoin's realized cap surged $3B this week, signaling strong accumulation as prices held steady between $102K and $ 107 K.
BlackRock's $530M BTC buy for IBIT drove institutional inflows, reversing ETF outflows and bolstering market confidence.
Strategy and Metaplanet's combined $869M Bitcoin purchases aligned with a breakout above $106K, reinforcing bullish momentum.
On-chain metrics show Bitcoin's realized capitalization surged by over $3 billion this week, signaling increased market accumulation. Simultaneously, major institutional players have intensified purchases, driving strong inflows and reinforcing bullish momentum.
Realized Capitalization Confirms Strategic Buying
Bitcoin’s realized capitalization grew by $3 billion, representing 0.33% of all capital deployed into the asset. In a post by Sjuul of AltCryptoGems, this metric’s upward slope “signals ongoing accumulation and limited widespread selling pressure,” while the price fluctuated between $102,000 and $107,000. The realized cap, now reaching $909.58 billion, reflects coins valued at their last on-chain movement, a key metric to track investor conviction.
https://twitter.com/AltCryptoGems/status/1925311779011252238
The chart also highlighted Bitcoin's interaction with short-term holder metrics. A red line, likely the short-term holder realized price, hovered near $106K, repeatedly acting as resistance and support. Despite volatility, realized cap momentum remained unaffected, eliminating signs of mass liquidation or capitulation.
BlackRock ETF Adds $530M in Bitcoin Exposure.
Institutional activity accelerated as BlackRock acquired $530 million in Bitcoin for its iShares Bitcoin Trust (IBIT) on May 21. According to Bitcoin Archive, this purchase reinforced IBIT’s dominance in the ETF space, signaling strategic long-term positioning. The ETF structure offers direct BTC exposure, with custodial support likely through Coinbase, and aligns with BlackRock’s aim to capitalize on regulated crypto access for institutional investors.
IBIT’s inflows helped reverse negative ETF net flow trends seen earlier in the month. Market chatter underscores that IBIT is now the primary onramp for institutions, though some analysts warn of rising concentration risks. Nonetheless, sentiment around Bitcoin remains broadly bullish as large-cap funds continue building positions.
Whale Accumulation Boosts Market Momentum
Other major entities joined the accumulation trend, strengthening Bitcoin’s technical foundation. On May 19, Strategy added 7,390 BTC for $764.9 million, lifting its total holdings to 576,230 BTC. Acquired at an average price of $103,498, the purchase increased Strategy’s year-to-date yield to 16.3%, suggesting sustained conviction in Bitcoin’s long-term upside.
Metaplanet followed suit, securing 1,004 BTC for $104.3 million at $103,873 per coin. As of May 19, its portfolio rose to 7,800 BTC valued at $712.5 million, with a remarkable 189.1% YTD yield. These coordinated moves preceded Bitcoin’s May 19 breakout above $106,000, aligning price action with aggressive institutional entry points.
Price Action Aligns With Strong Network Metrics
According to Bitget data, Bitcoin’s market cap hit $2.19 trillion by May 22, supported by $91.07 billion in 24-hour trading volume. Price surged to a new all-time high of $111,861.22, with weekly gains reaching 7.99%. Despite sharp intraweek drawdowns, every dip was met with immediate buy pressure, confirming underlying bullish strength.
From May 15 to May 22, BTC steadily climbed from $101,000, peaking at $111K before settling near $ 110 K. Realized cap growth and ETF inflows converged to build a robust price floor, with no divergence between network fundamentals and market structure. Bitcoin last traded at $110,382.98 or 41.35 ETH.
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