On-chain analytics firm Glassnode suggests that Bitcoin (BTC) still has room for an upward price movement based on its Realized Cap indicator. The firm points out that the current growth in Realized Cap has not fully materialized yet, indicating that there may be potential for further expansion. Glassnode also compares the current cycle to Bitcoin's 2015-2018 bull run, noting that pullbacks have been minimal due to strong demand and Bitcoin's role as a macro asset. The firm anticipates a potential second euphoric phase of price acceleration if new demand emerges. Bitcoin is currently trading at $101,807, down over 3.5% in the last 24 hours.



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