Bitcoin’s Realized Cap Hits Record as Market Eyes Six-Figure Return

Bitcoin is on the verge of regaining its psychological threshold of $100,000, and analysts at CryptoQuant explain some of the reasons behind the rise.

Bitcoin is seeing new highs — not just in price but in on-chain valuation metrics. According to CryptoQuant, the network’s realized cap, which tracks the value of BTC based on its last on-chain movement, reached an all-time high of $891 billion as of May 7. This metric reflects increasing investor conviction and steady capital inflows.

CryptoQuant’s Carmelo Alemán notes that both long- and short-term holders are accumulating, signaling confidence in Bitcoin’s long-term potential. The current momentum may be laying the groundwork for a broader bull cycle.

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Glassnode’s latest report echoes this optimism, noting that daily profit-taking now exceeds $1 billion. Despite fears of a pullback, the report suggests that rising demand is absorbing sell pressure, maintaining market balance near the $100,000 mark.

Since late 2023, the market has remained in a profit-focused regime, with capital inflows consistently outpacing outflows — a trend analysts see as a healthy sign of growing demand.

Alexander Zdravkov