Bitcoin’s Realized Market Cap at $857B: What It Means
Bitcoin has been struggling to break $100,000 since early February volatility That keeps the leading coin in a fixed way.
However, a new report suggests that this trend may change soon, with two indicators pointing to a bullish uptrend.
Analysts say the Bitcoin bull cycle is not over yet.
According to CryptoQuant’s pseudo-analyst MAC_D, “the bull cycle in the Bitcoin market is not over yet.” This is based on analysts’ Evaluate Leading coins realize market capitalization and proportion of their long-term holders (LTHS).
Bitcoin’s market value, measured by its last rise, has risen to $857 billion. This is important because the reference standard accurately reflects the value of long-term investors and the actual cost basis of the coins in the issuance.
when Market value realized by BTC Such a climb shows that long-term investors hold more coins. This also means that the coins that change hands do so at an increasingly high price. This is seen as confidence in the future value of Bitcoin.
As more coins are held at higher prices, it can relieve LTH’s sales pressure. They are unlikely to be sold unless the value of coins reaches the level of their acquisition cost. This can reduce the downward pressure on the coin and lead to higher momentum in the short term.
It is worth noting that the surge in the proportion of coins held by BTC LTHS confirms this trend.
“At the peak of the price in the previous cycle, they had a ratio of 15.66%, compared to 39.74% at present. This suggests that the market may not have peaked, given the ratio in the previous cycle,” MacD_D wrote.
This growth suggests that long-term investors now own most of the Bitcoin. Given that the price peak in the previous cycle occurs when the ratio is low, the current ratio indicates that there is still room for price growth before reaching the top of the cycle.
BTC price forecast: Profits could derail the rally
Bitcoin is currently The transaction price is $96,834, accounting for the support level to sell for $95,513. The continued increase in coins held by LTHS may push BTC to the next resistance at $98,118.
If this critical resistance is violated, Bitcoin could exceed $100,000, unlocking a new phase in the bull run.
However, if profits increase, this bullish outlook may be invalid. In this case, the price of the coin Can be lowered below $95,513 support is likely to drop to $91,473.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
