Despite a broader cryptocurrency market downturn following a significant decline earlier this month, Bitcoin shows resilient demand with its onchain activity continuing to grow. This includes increased investor and miner participation, potentially indicating confidence in the asset class and future trajectory. 19 billion USD in Bitcoin’s value vanished following an early-month crash. Bitcoin’s realized market cap surpasses $1.1 trillion, fueled by rising inflows from institutional investors, as Bitcoin treasury holdings and ETFs contribute to this growth. Meanwhile, miners are expanding operations, increasing the network’s hashrate—a positive sign for Bitcoin’s long-term health and potential price appreciation.