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Bitcoin Magazine said on X that BTC’s realized cap is rising, which it viewed as a sign that new money is entering the market. The outlet added that, historically, gains in realized cap have signaled the start of a new bull market.
Realized cap is a market capitalization metric based on the price at which each BTC last moved on-chain, rather than the current market price. A rise in the indicator means Bitcoin’s on-chain valuation is increasing, and it is used as one gauge of fresh capital inflows.