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How Bitcoin’s $857 Billion Realized Market Cap and Holder Shifts Point to More Gains

How Bitcoin’s $857 Billion Realized Market Cap and Holder Shifts Point to More Gains
Bitcoin has been struggling to break the $100,000 mark due to recent market volatility, but a new report suggests that this trend may change soon. One indicator, Bitcoin's realized market capitalization, has reached an all-time high of $857 billion, indicating that long-term investors are holding more of the coin and have confidence in its future value. The proportion of coins held by long-term holders has also increased significantly. This suggests that there is still room for price growth before reaching a cycle top. Bitcoin is currently trading at $96,834 and a sustained increase in coins held by long-term investors could drive it towards the next resistance level at $98,118 and potentially unlock a new phase in the bull run. However, profit-taking could invalidate this bullish outlook and cause the price to dip below the support level at $95,513.

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