Bitcoin's realized capitalization jumped by over $3 billion in a single day, a 0.33% increase, signaling renewed capital inflows. The analysis, highlighted by CryptoQuant contributor Carmelo Alemán, points to a recurring pattern of accumulation and consolidation. This uptick suggests buyers are entering the market at higher levels, demonstrating long-term confidence in the asset.
Bitcoin is currently trading at $106,574, up 1.7% in the last 24 hours. It remains just 2% below its all-time high of $109,000, recorded in January 2025. The steady climb has led analysts to monitor on-chain metrics more closely.
Alemán identified a repeating cycle since April, with sharp price increases followed by 8-10 days of sideways movement. These lateral phases, supported by a rising realized cap, form a staircase-like structure. Tracking realized cap will be essential to confirm whether the current phase evolves into another upward price impulse.
The current rise indicates capital entering the market has a long-term view. This positions the market for a potential continuation, especially around the $106,000-$109,000 range. If the trend persists, it could support another leg higher, reinforcing the view that Bitcoin remains in a broader accumulation structure.
Recent policy shifts between the United States and China have also fueled investor sentiment. Both countries have agreed to temporarily reduce tariffs, potentially easing global trade tensions. This has supported risk-on assets such as Bitcoin.
This article is based on our author's analysis of materials taken from CryptoQuant and TradingView.