Bitcoin has set an all-time high for its Realized Capitalization metric, hitting a record $906.04 billion for the fourth consecutive week. This metric reflects the total value of unspent Bitcoin transactions, based on their purchase price, surpassing its previous record as BTC consolidates around the crucial support level of $103,000. 💰 Analysts believe this trend could signal a historic bull run. 🤔
The rise in Realized Capitalization is driven by a combination of factors. Since May 8th, Bitcoin has attracted an additional $14.4 billion, showing steady investor inflow, according to CryptoQuant’s latest report. 💪 Analysts believe this indicates the next potential targets could be around $104,731 and then towards $107,757.
Large holders have also been adding to their holdings, with the 100-1,000 BTC UTXO value bands increasing by 122,540 BTC over the past ten days. 🙌 This trend signals market confidence and could potentially push prices further higher. 🚀 Meanwhile, Institutional interest remains uneven but BlackRock has added to its Bitcoin holdings during this period.
Overall, Bitcoin’s recent surge in value is being fueled by a combination of positive catalysts including easing downside risks for the tech sector, renewed commitments from major firms, and political shifts. The upcoming $5 billion in FTX creditor payouts due late May could be a significant catalyst for further momentum as well.
The post Bitcoin Realized Value Reaches New High of $906 Billion – Is a Bull Run be Brewing?
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