CryptoQuant analyst Darkfost said on Aug. 30 that Bitcoin’s weekly realized capitalization kept climbing, rising by more than $4.6 billion over the past week. He said the move suggests capital inflows have helped support BTC’s latest advance and marks the strongest realized cap growth since Bitcoin entered the current bear market. Darkfost also noted that the pattern resembles parts of the previous bear-market cycle.
He cautioned, though, that rising realized capitalization does not fully equate to fresh money entering the market. Some of the increase may come from investors who bought at higher levels, then sold at a loss, with new UTXOs later formed at lower realized prices. Even so, he said BTC’s price action over the same period indicates demand has still been stronger than the related selling pressure.
Darkfost described the shift as a short-term signal worth watching, but said the scale remains limited. Bitcoin’s 30-day average realized cap change rate stands at just 0.4%, which he said is still not enough to confirm that the broader market trend has entered a lasting reversal. More data is needed.
CryptoQuant analyst Darkfost said on Aug. 30 that Bitcoin’s weekly realized capitalization continued to rise, increasing by more than $4.6 billion over the past week. According to him, that points to capital inflows supporting BTC’s latest price advance.
Strongest realized cap growth in the current bear market
Darkfost said this was the strongest rise in Bitcoin realized capitalization since the asset entered the current bear market. He added that the pattern also resembles parts of the previous bear-market cycle.
The increase does not fully represent new capital entering the market
He said realized cap growth should not be read as a one-to-one measure of fresh inflows. Some investors who bought at higher prices may have sold at a loss, then created new UTXOs at lower realized prices.
Even so, based on BTC’s price performance over the same period, Darkfost said market demand remained stronger than the associated selling pressure.
A short-term signal, but not trend confirmation
Darkfost said the change is a short-term signal worth watching, but its magnitude is still limited. Bitcoin’s 30-day average realized cap change rate is only 0.4%, which in his view is not enough at this stage to confirm that the market trend has shifted into a sustained reversal. He said follow-up data is still needed.
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