Key Highlights:
Bitcoin’s realized cap surged to a record $891 billion, signaling strong investor conviction.
Accumulation by both long-term and short-term holders hints at the early stages of a new bull cycle.
Analysts say profit-taking is not deterring upward momentum as capital inflows remain robust.
Bitcoin's Realized Cap Hits All-Time High Amid $100K Price Push
Bitcoin (BTC) is approaching the $100,000 milestone with renewed bullish momentum, underpinned by strong onchain fundamentals. According to data from CryptoQuant, Bitcoin’s realized capitalization—a metric reflecting the total value of coins based on their last onchain movement—has reached an all-time high of $891 billion as of May 7, 2025.
This metric is often seen as a more stable and meaningful measure of Bitcoin’s valuation, and its consistent climb signals ongoing investor accumulation and capital inflows into the Bitcoin ecosystem.
Growing Capital Inflows Fuel Price Expansion
CryptoQuant analyst Carmelo Alemán noted that the steady growth in Bitcoin's realized cap since mid-April indicates long-term confidence among both short-term holders (STHs) and long-term holders (LTHs).
“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,” Alemán said.
According to the analysis, this ongoing accumulation could lay the groundwork for a "potentially significant price breakout", possibly marking the beginning of a new Bitcoin bull cycle.
Profit-Taking Persists, But Bullish Trend Remains Intact
Despite rising BTC prices, data from Glassnode shows that both short-term and long-term investors are locking in profits, with over $1 billion in daily net realized gains observed in recent weeks.
However, Glassnode emphasizes that the buy-side demand is strong enough to absorb this selling pressure, highlighting a healthy market structure.
“This points to a wave of demand which is absorbing the incoming supply,” Glassnode wrote in its May 6 Week Onchain newsletter.
“The market has sustained a profit-driven regime since October 2023, with capital inflows consistently exceeding outflows.”
This sustained inflow of capital has provided the necessary support for Bitcoin to stabilize above $95,000 and eye a retest of its all-time high at $109,000.
BTC Price Outlook: Is a Breakout Imminent?
At the time of writing, Bitcoin trades at $99,369, inching closer to the key $100K resistance. Analysts widely agree that a clean break above this level could open the door to $107K–$110K, while any pullbacks are likely to find support near $95K.
With macro uncertainties and trade policy shifts still in play, Bitcoin’s appeal as a hedge against fiat devaluation and traditional financial risk continues to grow.
Bitcoin’s record-high realized cap, sustained capital inflows, and resilient price structure all signal that the current market environment may be setting the stage for a major breakout. If the current trajectory holds, $100,000 may be just the beginning of a broader move in what could become Bitcoin’s next major bull cycle, according to Cointelegraph.
