The “Realized cap” metric, which experts claim reflects the value of Bitcoin better, is also winking at the top.

The “realized value”, based on the last moving Bitcoin price in the addresses, exceeded the level of 497.2 billion dollars. The peak was 468.3 billion dollars in April 2022. So this metric is only 0.22% away from the top.

“It is the backbone of Bitcoin analysis”

The company’s James Check commented on this information coming from the on-chain data platform Glassnode. He made the following statements in his analysis on Check X:

“The most important point is that the realized value metric in Bitcoin reaches its peak. This is where real liquidity is seen, where capital is invested and preserved as BTC. And now it’s approaching its peak. “This metric is the backbone of Bitcoin analysis.”

The average investor has already doubled his money…

Analysts note that the realized value metric represents the average investor’s cost base. And according to Glassnode, the average Bitcoin investor is currently sitting on a 114% unrealized profit. In other words, the average investor has already doubled his money.

“Small investors still haven’t arrived”

Another on-chain analysis firm, IntoTheBlock, stated that small investors in Bitcoin have still not fully reached this area and the number of new addresses is still very stable.

At the time the news was written, Bitcoin was trading around $62,900.

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