Bitcoins [BTC] realized cap is soaring while another key metric plummets

• Bitcoin’s realized market capitalization experienced significant changes, reaching $389.4 billion, but relative growth showed a decreasing trend across eras.
• Despite small recovery attempts, Bitcoin’s current price remains below $27,000, indicating a persistent bearish trend.

In the ever-fluctuating realm of Bitcoin[BTC], the market value dances to the beat of price fluctuations. Still, assessing its peak and measuring its progress or decline can be viewed from different angles.

Read Bitcoin (BTC) Price Prediction 2023-24

According to insights from Glassnode, the realized capitalization of BTC witnessed significant changes throughout its existence and here was its current state.

Bitcoin era 4 realized the market value reaches 200 billion dollars

Fresh insight from Glass node unveiled a compelling narrative of Bitcoin’s realized capitalization experiencing post-halving growth.

This metric revealed a cyclical pattern, where each successive epoch witnessed an increase in the Bitcoin realized cap. The current era saw an impressive capital inflow of $282.8 billion.

Source: Glassnode

The analysis of the chart provided insight into the realized milestones achieved in previous eras.

At Epoch 1, the realized cap was a modest $74 million, quickly escalating to $5.5 billion during Epoch 2. Further progression led to a significant leap to $102.3 billion in Epoch 3. At the time of writing, it was in epoch 4.

To understand the concept behind realized cap, it is crucial to understand that it calculates the overall value of a cryptocurrency network by summing the market value of each unit of the asset based on the price at which it was last transferred.

Essentially, the realized peak reflects the comprehensive value of the cryptocurrency network based on the actual buying and selling prices made by investors.

Bitcoin’s relative growth slows as realized caps rise

According to the latest data from Glassnode, the current realized market for Bitcoin exceeded a significant value of $389.4 billion. It is worth noting that this figure differs from the absolute realized peak.

While the realized peak may appear to show growth, a closer examination of relative growth revealed a declining trend across eras.

At the time of writing, the ongoing cycle witnessed a significant expansion of 362%. Epoch 1 recorded an expansion of 42495% for context.

Current market value and price trend

A closer look at the daily time frame chart indicated that Bitcoin made small recovery attempts over the past 24 hours. At the time of writing it was trading at approximately $26,900, showing a small gain and approaching $27,000.

However, it is important to note that Bitcoin’s Relative Strength Index (RSI) remained below 40, signaling an ongoing bearish trend.

Source: TradingView

How much is 1,10,100 BTC worth today

According to the latest data from CoinMarketCap, Bitcoin’s current market cap rose close to $520 billion, underscoring its significant presence in the market.

This value represented over 46% of the total market capitalization, highlighting Bitcoin’s dominance. It is noteworthy that the total market cap for crypto is a little over $1 trillion currently.