Bitcoin’s realized cap hit a record $872 billion, but slowing growth, profit-taking, and underwater short-term holders suggest the market remains risk-off.
Bitcoin’s (BTC) realized market cap reached a new all-time high of $872 billion, but data from Glassnode reflects investors’ lack of enthusiasm at BTC’s current price levels.
In a recent X post, the analytics platform pointed out that despite the realized cap milestone, the monthly growth rate of the metric has dropped to 0.9% month over month, which implied a risk-off sentiment in the market.
Realized cap measures the total value of all Bitcoin at the price they last moved, reflecting the actual capital invested, providing insight into Bitcoin’s economic activity. A slowing growth rate highlights a positive but reduced capital inflow, suggesting fewer new investors or less activity from current holders.
