Bitcoin Hits $461 Billion in Key Indicator, BTC Price Rebound Coming?
2024-09-17

Bitcoin BTCUSD has seen a remarkable surge in one of the most important indicators. According to CryptoQuant, the realized cap of BTC has surged 0.66% or $3 billion to $461 billion. This shows the low market movements and net capital inflow into it.
The realized cap indicator is widely used to count each coin at a time when it was last traded on the network. Moreover, these coins are revalued during the "hand movements," when a cost base is established. This helps traders to analyze the inflow and outflow of the net capital on the market.
Bitcoin market sentiment
Using this metric, BTC traders can gain insights into the three inflection points to see the current phase, where all the capital has gone. First of all, we have the market tops. During this time, the realized cap ceases to increase, and this is the point where there is stability on the market and the capital trend changes from profit to loss.
Secondly, we have the recovery point from the bear market scenarios. At this point, the holding behavior of traders indicated the market floor. Additionally, it highlights the capital flows into Bitcoin in a more even way.
Lastly, we have the bull market rally point. This is the point at which the BTC market approaches the next all-time high. Moreover, those holders who bought the dips when the price was at the lows tend to gain profits during this time. The current realized cap of $461 billion shows stagnant growth.
It shows that Bitcoin is in a make or break situation. The coin has to break out of the recent consolidation phase in order to trigger a notable price rally. Overall, it appears that the next 30 days are going to be critical for the BTC price. The market can see intense volatility for Bitcoin.