{"id":652299,"date":"2024-11-09T14:00:54","date_gmt":"2024-11-09T14:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=652299"},"modified":"2024-11-09T07:26:39","modified_gmt":"2024-11-09T07:26:39","slug":"bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time\/","title":{"rendered":"Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time"},"content":{"rendered":"

The Bitcoin price and the entire crypto market have been on a tear since the outcome of the United States elections was announced in the early hours of Wednesday, November 6. The premier cryptocurrency specifically has breached and printed new all-time high<\/a> prices over the past few days.<\/span>
\n<\/span>
\n<\/span>Interestingly, the price of BTC has shown no signs of weakness going into the weekend, with the market leader forging a new record high above $77,000 on Friday, November 8. While the hot streak of the Bitcoin price can be attributed to the latest victory of former president Donald Trump in the US, on-chain data suggests that this rally has been a long time coming.<\/span><\/p>\n

BTC\u2019s Realized Cap Experiences Largest Increase In Two Years<\/b><\/h2>\n

One of the latest on-chain metrics to offer an interesting insight into the meteoric rise of Bitcoin\u2019s price is the realized cap indicator. In a November 8 post on the X platform, blockchain analytics firm Glassnode revealed<\/a> that Bitcoin\u2019s realized cap recently reached a new all-time high of $656 billion.<\/span><\/p>\n

Related Reading: Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish<\/a><\/div>\n
<\/div>\n
For clarity, the realized cap metric measured the value of each Bitcoin as at the last time they were transacted. This offers a more interesting way to evaluate the cost basis (the time in which the coins changed hands) as opposed to the regular market capitalization, which is derived by multiplying the total number of circulating coins by the current market price.<\/span><\/div>\n
<\/div>\n
Data from Glassnode shows that the Bitcoin realized cap witnessed a 3.8% upswing in the past 30 days, which represents one of the metric\u2019s largest increases since January 2023. As shown in the chart below, this metric has been experiencing positive growth since the start of the year, as the 30-day net change has mostly been green.<\/span><\/div>\n
\n
\"Bitcoin\"
Source: Glassnode\/X<\/figcaption><\/figure>\n<\/div>\n

It is worth mentioning that the realized cap metric also represents the amount of capital flowing in and out of the flagship cryptocurrency<\/a>. The latest increase reflects a net capital inflow of over $2.5 billion in the past month, suggesting the entry of new investors \u2014 both retail and institutional investors.<\/span><\/p>\n

With the realized cap and Bitcoin price consolidating over the past few months, a sudden increase of the former to $656 billion suggests that the premier cryptocurrency might be moving from the \u201creaccumulation\u201d phase to a markup phase. Ultimately, a continuation of the capital inflow trend could sustain the increase in the Bitcoin price<\/a> over the next couple of months.<\/span><\/p>\n

Bitcoin Price At A Glance<\/b><\/h2>\n

As of this writing, the price of Bitcoin is valued at around $76,700, having lost its hold above the historical $77,000 level. According to CoinGecko data, the market leader is up by an impressive 10% in the past week.<\/span><\/p>\n

Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH \u2013 Time To Buy Altcoins?<\/a><\/div>\n
\"Bitcoin\"
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image created by Dall.E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price and the entire crypto market have been on a tear since the outcome of the United States elections was announced in the early hours of Wednesday, November 6. The premier cryptocurrency specifically has breached and printed new all-time high prices over the past few days. Interestingly, the price of BTC has shown no signs of weakness going into the weekend, with the market leader forging a new record high above $77,000 on Friday, November 8. While the hot streak of the Bitcoin price can be attributed to the latest victory of former president Donald Trump in the US, on-chain data suggests that this rally has been a long time coming. BTC\u2019s Realized Cap Experiences Largest Increase In Two Years One of the latest on-chain metrics to offer an interesting insight into the meteoric rise of Bitcoin\u2019s price is the realized cap indicator. In a November 8 post on the X platform, blockchain analytics firm Glassnode revealed that Bitcoin\u2019s realized cap recently reached a new all-time high of $656 billion. Related Reading: Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish For clarity, the realized cap metric measured the value of each Bitcoin as at the last time they were transacted. This offers a more interesting way to evaluate the cost basis (the time in which the coins changed hands) as opposed to the regular market capitalization, which is derived by multiplying the total number of circulating coins by the current market price. Data from Glassnode shows that the Bitcoin realized cap witnessed a 3.8% upswing in the past 30 days, which represents one of the metric\u2019s largest increases since January 2023. As shown in the chart below, this metric has been experiencing positive growth since the start of the year, as the 30-day net change has mostly been green. It is worth mentioning that the realized cap metric also represents the amount of capital flowing in and out of the flagship cryptocurrency. The latest increase reflects a net capital inflow of over $2.5 billion in the past month, suggesting the entry of new investors \u2014 both retail and institutional investors. With the realized cap and Bitcoin price consolidating over the past few months, a sudden increase of the former to $656 billion suggests that the premier cryptocurrency might be moving from the \u201creaccumulation\u201d phase to a markup phase. Ultimately, a continuation of the capital inflow trend could sustain the increase in the Bitcoin price over the next couple of months. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is valued at around $76,700, having lost its hold above the historical $77,000 level. According to CoinGecko data, the market leader is up by an impressive 10% in the past week. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH \u2013 Time To Buy Altcoins? Featured image created by Dall.E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":641963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,679,86192,78790,61309],"class_list":["post-652299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-realized-cap","tag-btcusdt","tag-glassnode"],"acf":[],"yoast_head":"\nBitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time<\/title>\n<meta name=\"description\" content=\"The Bitcoin price and the entire crypto market have been on a tear since the outcome of the United States elections was announced in the early hours of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/2024-09-15-03.42.57.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/2024-09-15-03.42.57.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","bitcoin realized cap","btcusdt","glassnode"],"dateCreated":"2024-11-09T14:00:54Z","datePublished":"2024-11-09T14:00:54Z","dateModified":"2024-11-09T14:00:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-realized-cap-at-all-time-high-as-price-hits-77000-for-the-first-time\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-15-03.42.57.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-15-03.42.57.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"bitcoin realized cap\",\"btcusdt\",\"glassnode\"],\"dateCreated\":\"2024-11-09T14:00:54Z\",\"datePublished\":\"2024-11-09T14:00:54Z\",\"dateModified\":\"2024-11-09T14:00:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/2024-09-15-03.42.57.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=652299"}],"version-history":[{"count":4,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652299\/revisions"}],"predecessor-version":[{"id":652333,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652299\/revisions\/652333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/641963"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=652299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=652299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=652299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}