Bitcoin’s bull run is unlike any before, as its realized cap surpasses $850 billion for the first time, signaling unprecedented capital inflows into the network, according to Glassnode’s latest report.
Since the 2022 bear market low, Bitcoin has absorbed nearly $500 billion in new capital, more than doubling its realized cap from $400 billion to $850 billion. The network also settled over $3 trillion in transactions over the past year, reinforcing Bitcoin’s s value and utility.
Glassnode highlights that this bull market is “atypical”, as new demand has occurred in bursts rather than sustained inflows. Unlike past cycles, which peaked one year after breaking all-time highs, the current cycle first hit a new ATH in March 2024, suggesting the macro top may still be far off.
Source: Cointelegraph
