Bitcoin’s realized capitalization has surged by $3 billion in just 24 hours, signaling strong accumulation as BTC trades near its all-time high of $109,000. This significant on-chain metric points to sustained bullish momentum in the broader cryptocurrency market, which has been bolstered by improving macroeconomic conditions.
The surge comes as technical indicators suggest Bitcoin could reach $118,000 by June, with the current price action showing remarkable strength at $106,574, up 1.7% in the past day.
Macro Factors Drive Bitcoin’s Growth
Recent policy shifts between the United States and China have created a more favorable environment for risk assets. Both nations have implemented significant tariff reductions, with the US cutting rates from 145% to 30% and China reducing its tariffs from 125% to 10% over a 90-day period. This easing of trade tensions has contributed to positive market sentiment.
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Realized Cap Analysis Reveals Strong Accumulation
CryptoQuant analyst Carmelo Alemán’s research highlights a notable 0.33% increase in Bitcoin’s realized capitalization, representing over $3 billion in new capital entering the market. This metric, which measures the value of BTC based on the price at which each coin last moved, suggests investors are accumulating at higher price levels.
Staircase Pattern Emerges in Bitcoin’s Price Action
A distinct pattern has emerged since April, characterized by sharp price increases followed by 8-10 day consolidation periods. This “staircase” formation, supported by rising realized cap values, indicates a healthy bull market structure.
Looking Ahead: Market Implications
The current accumulation phase mirrors patterns seen in previous bull cycles, suggesting potential for continued upward momentum. With Bitcoin trading just 2% below its all-time high, the market appears positioned for further gains, particularly if the realized cap continues its upward trajectory.
FAQ Section
What is Bitcoin’s realized capitalization?
Realized capitalization is an on-chain metric that calculates Bitcoin’s market value based on the price at which each coin last moved, providing a more accurate picture of actual capital invested in the network.
Why is the $3 billion increase significant?
This increase represents substantial new capital entering the market, indicating strong investor confidence and potential for continued price appreciation.
What could this mean for Bitcoin’s price?
Historical patterns suggest that increases in realized cap during consolidation phases often precede significant price movements, potentially supporting analysts’ predictions of Bitcoin reaching $150,000 by August.