Summary
Bitcoin’s “realized capitalization” has surged to nearly its all-time high, indicating strong investment in the asset. The MVRV ratio shows that 97% of Bitcoin investors are in profit. Other assets like Optimism and Ethereum also show robust numbers. Bitcoin’s price is currently at $60,372, with analysts suggesting there is still room for growth. Retail participation in Bitcoin may be increasing, with the launch of Bitcoin ETFs attracting small individual trades.
Key Points
1. Bitcoin’s “realized capitalization” has surged to $467.2 billion, just shy of its all-time high in April 2022, indicating a return to historic peak investment levels.
2. The average investor now sits on unrealized profits of 114%, more than doubling their money, as per Glassnode data showing an MVRV value of 2.14.
3. Retail participation in Bitcoin may be heating up through the newly launched Bitcoin ETFs, as indicated by small individual trades and the potential for further growth before reaching the next cyclical top.