Analysts Identify Signs of a New Bullish Momentum in Bitcoin Through On-Chain Indicators

The increase in Bitcoin’s realized capitalization by $3 billion within a day, reaching new highs, indicates a continuation of the accumulation phase before the next upward push expected in the coming week, according to insights from CryptoQuant.

This gain represented a significant 0.33% of the total market value.

The metric reflects the combined dollar value of all circulating coins, calculated based on the last recorded prices at which they were transferred.

The rise in realized capitalization suggests ongoing purchases at progressively higher prices, which in turn elevates the «cost basis» of Bitcoin and underscores a long-term conviction in the asset’s future potential.

There has been a positive trend in this metric since April 11, with accumulation zones forming a stepped structure supported by higher price levels.

Historically, sharp increases in this indicator have often preceded substantial price surges, particularly when they occur during consolidation phases.

Currently, the behavior of this metric suggests the market is gearing up for a potential breakthrough, as accumulation intensifies near key psychological levels, experts concluded.

Previously, CoinDesk specialists highlighted six charts of various metrics that affirm a solid foundation for Bitcoin to surpass $100,000.

It is noteworthy that Standard Chartered has encouraged the purchase of the leading cryptocurrency, forecasting its price could rise to $120,000 in the second quarter.