---
title: "Rising Bitcoin Realized Cap Points to Fresh Capital Inflow, But BTC Dipped Below $65K"
url: https://diffcoin.com/rising-bitcoin-realized-cap-points-to-fresh-capital-inflow-but-btc-dipped-below-65k/
description: "Recent analysis from blockchain analytics firm Glassnode reveals that there has been a significant injection of new capital into the asset class. However, markets have turned south again."
published: 2024-04-03
updated: 2024-04-03
author: "Mila"
site: "Diffcoin"
---

# Rising Bitcoin Realized Cap Points to Fresh Capital Inflow, But BTC Dipped Below $65K

On April 2, industry analytics provider Glassnode reported that long-term holders have started distributing BTC and selling to new investors at higher prices.

> “This represents an injection of new capital into the asset class, driving the realized cap up to new heights,” it added.

Realized cap is a measure of cumulative USD liquidity ‘stored’ in the asset class.

> As the [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) Spot Price consolidates below the new ATH of $73k, the Long-Term Holder cohort has entered their distribution phase, selling to new investors at higher prices.
> 
> This represents an injection of new capital into the asset class, driving the realized cap up to new… [pic.twitter.com/gGECO2oyyt](https://t.co/gGECO2oyyt)
> 
> — glassnode (@glassnode) [April 2, 2024](https://twitter.com/glassnode/status/1775114487239946567?ref_src=twsrc%5Etfw)

## BTC Correction at 10%

However, the analysis was made as Bitcoin approached its all-time high for the second time and before markets began to retreat this week. BTC hit a peak price of $73,734 on March 14, pulled back around 17%, and returned to $71,550 on March 28 before resistance proved to be too strong.

It retreated just below $65,000 during the Wednesday morning Asian trading session, dropping to $64,573 before recovering to $66,300 at the time of writing, according to CoinGecko. BTC is currently 10% down from its ATH.

Nevertheless, Glassnode revealed that the realized cap also reached a new all-time high of $540 billion “and is increasing at an unprecedented rate of over $79 billion per month.”

Using the Realized Cap HODL Wave metric, Glassnode analyzed the distribution of USD-denominated wealth held across various age bands.

There has been a sharp increase in coin-ages younger than three months, it noted before adding that “these newer investors now own around 44% of the aggregate network wealth.”

It concluded that there has been a “distinct shift in investor behavior patterns.”

> “Long-Term Holders are well into their distribution cycle, realizing profits, and re-awakening dormant supply to satisfy new demand at higher prices.”

The realized cap is climbing “because old coins are revalued higher, both from GBTC (~30%) and the rest by HODLers selling,” said Glassnode analyst ‘Checkmatey.’

> There was a time when a chorus of [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) analysts were banging on about unrealistic 100x multiplier effects per dollar invested.
> 
> I proposed it was much closer to 5x, and up to 10x only in low liquidity spikes.
> 
> Since Jan 2023, the [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) market cap is up about $1Trillion…
> 
> — _Checkɱate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) [April 2, 2024](https://twitter.com/_Checkmatey_/status/1775297339428884807?ref_src=twsrc%5Etfw)

Furthermore, Santiment reported that the belief that Bitcoin is in a bull market may not have “fizzled out significantly,” according to social sentiment.

## Elsewhere on Crypto Markets

Total market cap is down 3% on the day to $2.65 trillion, which is around 15% lower than its all-time high, which is still back in November 2021.

Aside from a handful of pumped meme coins, altcoins have yet to move significantly in this market cycle.

Today, they are all in the red again, with Ethereum down 2% at $3,300, XRP losing 2.5% falling to $0.584, and Dogecoin dropping 3% to $0.185.

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