Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin’s realized cap surpassed $1 trillion as price hit new ATH above $123k

Bitcoin’s realized cap surpassed $1 trillion as price hit new ATH above $123k

CryptoSlateCryptoSlate2025/07/18 16:00
By:Oluwapelumi Adejumo

Bitcoin has reached a new milestone with its realized capitalization crossing the $1 trillion mark for the first time, according to on-chain analytics firm Glassnode.

The surge comes just a few days after BTC’s spot price hit a fresh all-time high above $123,000, underlining the intensity of recent investor demand.

Unlike traditional market capitalization, realized cap measures the value of Bitcoin based on the price each coin last moved on-chain. This approach offers a clearer picture of actual capital stored in the network and is widely regarded as a more accurate indicator of investor conviction.

Bitcoin’s realized cap surpassed $1 trillion as price hit new ATH above $123k image 0 Bitcoin Realized Cap (Source: Glassnode)

James Check, an on-chain analyst at Checkonchain, highlighted the importance of this metric by describing it as the “most important Bitcoin market metric.”

He explained:

“[The metric] values every coin at the price when it last transacted onchain. If you DCA’d 0.1 BTC back at a $10,000 price, it will be saved at 0.1x$10,000 = $1,000, irrespective of spot price. When it transacts again, it will be revalued, capturing capital flows in or out of the asset. What this metric means, is Bitcoiners have ‘saved’ $1 Trillion in real capital in Bitcoin.”

Meanwhile, Glassnode revealed that 25% of Bitcoin’s realized cap was added this year. According to the firm, this reflects the accelerating inflow of capital into the asset amid broader macro and institutional interest.

Bitcoin price faces resistance

Following this milestone, market analysts have cautioned that BTC must overcome a key resistance level at $123,370 before targeting new highs.

Joao Wedson, CEO of blockchain analytical firm Alphractal, warned that BTC’s recent rejection at this second “Alpha Price” level is a short-term red flag.

The Alpha Price is a dynamic on-chain model that blends realized price, historical average cap, and other factors to estimate likely resistance and support zones.

Bitcoin’s realized cap surpassed $1 trillion as price hit new ATH above $123k image 1 Bitcoin Alpha Price (Source: Alphractal)

Wedson said:

“[Alpha Price] behaves almost like pressure zones: lower levels tend to act as strong support, while upper levels often signal increased selling pressure—especially when most wallets are deep in profit. These thresholds reflect shifts in investor sentiment and can define where buyers and sellers are likely to react.”

However, should BTC price overcome the resistance at $123,370, Alphractal forecasts the next major target between $143,000 and $146,000.

Still, the risk of an overheated derivatives market hangs on the horizon.

According to Alphractal, long positions, or traders betting on further price increases, have been dominating in recent months.

While this reflects bullish sentiment, it also increases the risk of a sudden “Long Squeeze”, a situation where falling prices liquidate overleveraged longs and could amplify downward pressure on the market.

The post Bitcoin’s realized cap surpassed $1 trillion as price hit new ATH above $123k appeared first on CryptoSlate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like