In January 2025, Bitcoin achieved a historic high in realized capitalization, reaching $832 billion. This metric adjusts Bitcoin's total transaction value for price and shows steady growth despite slower capital inflows. Glassnode's data indicates that Bitcoin's realized capitalization has been growing steadily at a rate of $38.6 billion per month, suggesting ongoing engagement in the cryptocurrency market. However, new investments into Bitcoin have slowed since the price surged beyond $100,000. The decline in capital inflows contrasts with earlier periods of aggressive investment during rapid price increases. Profit-taking also decreased significantly, with the net realized profit metric dropping by 93% and the absolute realized profit declining by 65%. Despite this, the market remains resilient and stable, with sustained demand from large holders. The ability of Bitcoin to maintain its high realized capitalization without significant new investments demonstrates the ongoing confidence of its participants and may shape the future trajectory of the market.



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