Bitcoin’s realized capitalization has shattered records for the fourth consecutive week, reaching an unprecedented $906 billion amid increasing institutional accumulation. This milestone, coupled with significant whale activity and ETF inflows, suggests Bitcoin could be preparing for its next major price surge.
Breaking Down Bitcoin’s Record-Breaking Realized Cap
According to CryptoQuant data, Bitcoin’s realized capitalization – a key metric that values each coin at its last moved price – surpassed $906 billion as of May 18, 2025. This metric has now broken its previous all-time high for four straight weeks, demonstrating sustained capital inflow into the Bitcoin network. Similar accumulation patterns were observed last month when long-term holder supply increased by 10%.
Institutional Players Drive Accumulation
BlackRock’s IBIT spot ETF has emerged as a leading force in this accumulation phase, increasing its holdings by 1.66% from 621,600 BTC to 631,902 BTC. This follows the broader trend of substantial ETF inflows that have characterized the market recently.
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Technical Analysis Points to $120K Target
Bitcoin is currently consolidating near $104,731, with the next major resistance at $107,757. The Wyckoff Accumulation pattern suggests a potential push toward $120,000, supported by strong on-chain metrics and whale accumulation patterns.
FAQ: Bitcoin’s Realized Cap Milestone
What is Bitcoin’s realized capitalization?
Realized capitalization measures the total value of all Bitcoin based on the price at which each coin last moved, providing a more accurate picture of actual capital investment than market cap.
Why is the current realized cap significant?
The fourth consecutive weekly ATH in realized cap indicates sustained capital inflow and growing investor conviction, typically preceding major price movements.
What’s driving the current accumulation?
Institutional investors, particularly through ETFs, and whale wallets holding 100-1,000 BTC are the primary drivers of current accumulation.
At press time, Bitcoin trades at $103,450, maintaining strong fundamentals despite a slight 1.2% 24-hour decline. With nearly 100,000 BTC withdrawn from exchanges in recent weeks and continued institutional interest, the stage appears set for potential further upside.