Bitcoin’s realized market cap reaches $906 billion, suggesting a potential for a new all-time high despite today’s decline.

The realized capitalization of Bitcoin has set a new record at $906 billion, achieving its fourth consecutive weekly peak, according to data from CryptoQuant.

In contrast to standard market capitalization, which is derived by multiplying the current price by the circulating supply, realized market capitalization assesses the value of each coin based on its most recent transaction. This method provides a more accurate representation of the capital invested in the network, eliminating coins that are lost or inactive.

According to analyst Carmelo Alemán from CryptoQuant, Bitcoin has maintained a sideways trading pattern for the last 10 days, remaining near a crucial resistance level at $104,731.

Throughout this timeframe, realized capitalization increased by over $14 billion, rising from $891.7 billion to $906 billion. This represents a 1.61% gain in just over a week, indicating ongoing accumulation and rising investor confidence.

Alemán anticipates that if Bitcoin breaks through this resistance, it could quickly progress towards the next target of $107,757. He believes that overcoming this threshold could pave the way for a new all-time high in Bitcoin’s price.

He remarked:

“Should the trend of increasing Realized Capitalization persist, indicating sustained investor confidence in Bitcoin, it is quite probable that Bitcoin will reach a new ATH in the foreseeable future. This could set the groundwork for a significant bull run.”