"Bitcoin demand still strong"… Realised market cap increased by $8 billion over the past week
Summary
- Reported that the realised market cap of Bitcoin increased by $8 billion over the past week and surpassed $1.1 trillion.
- Stated that the increase in realised market cap is an indicator of investors' confidence and capital inflows into the market.
- Said this upswing was driven by Bitcoin treasury firms and institutions such as ETF managers.
Despite Bitcoin (BTC) showing a weak trend recently, an indicator has shown that investor interest in Bitcoin has not waned.
On the 3rd (Korean time), cryptoasset (cryptocurrency) news outlet Cointelegraph reported that Ki Young Ju, CEO of CryptoQuant, wrote on his X (formerly Twitter), "Over the past week the Bitcoin realised market cap (Realised Cap) increased by more than $8 billion, surpassing $1.1 trillion," adding, "This shows that Bitcoin's weak price is not due to weak demand."
Realised market cap is an indicator that represents the total invested amount based on Bitcoin holders' actual purchase prices, and it shows investors' confidence and capital inflows into the market.
Ki Young Ju said, "This uptrend was driven by institutions such as Bitcoin treasury firms and exchange-traded fund (ETF) managers," and "When they begin large-scale accumulation again, market momentum could recover."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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