TechFlow news, on November 24, CryptoQuant CEO Ki Young Ju posted on X stating that the Bitcoin market has not yet entered a bubble phase. Judging from realized cap, the market value's growth is not significant relative to cumulative on-chain capital inflows. Given the current steady upward trend in realized cap, Bitcoin still has room to rise, with a potential target price reaching $141,000.
Ki Young Ju explained that realized cap measures the scale of market capital inflow by calculating the total value of all Bitcoins at the time of their last on-chain transfer. Historical data shows that during bull markets, market cap often exceeds realized cap and peaks when retail investors enter; whereas during bear markets, market cap may fall below realized cap.
