TechFlow news, April 21 — CryptoQuant analyst Carmelo Alemán stated that Bitcoin's realized market cap reached a record high of $872.196 billion on April 14. Realized cap is calculated based on the price at which each bitcoin last moved on the blockchain, reflecting investors' actual cost basis.
Carmelo Alemán said this is a strong signal indicating that more investors are holding onto their bitcoins and more capital is flowing into the network. It also suggests growing confidence in the Bitcoin network and the asset itself, implying that Bitcoin may not have reached the top of its market cycle yet.
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