Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time

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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.

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 "reaccumulation” phase to a markup phase.

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.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOmanUnited States

Topics: Glassnode Bitcoin Bitcoin Bitcoin price BTCUSDT Bitcoin Realized Cap

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-09 @ 14:00:54 (5 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 317 words

Reading Time: 2 minutes read

Sentences: 60 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23480647

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Main Topics: Crypto

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