Bitcoin price today: flat at $118k, altcoins fall as markets lock in recent gains
U.Today - Bitcoin (BTC), the leading digital currency, has set another all-time high (ATH) in Realized Cap, for the third consecutive week. This signals bullish potential for the asset, particularly as the coin’s price registers significant gains in the last 24 hours.
Bitcoin reacts to growing investor confidence
According to an update shared by CryptoQuant, an on-chain data platform, posting a streak of new ATH in Realized Cap suggests that investors in the Bitcoin market are regaining confidence.Notably, when Realized Cap rises, it indicates new capital inflow as both long-term holders and short-term participants add to their positions. This development implies that investors in BTC believe in its recovery and have regained confidence in reinvesting in the asset.
This influx of new capital suggests that prices could register significant upward movement if the trend continues. However, this would depend on investors’ ability to keep trading volume up as well.
This means that the Bitcoin market could witness the early phase of a new bull cycle.
If this metric triggers a new bull season for Bitcoin, the asset could wipe out its previous price ATH of $109,000 set in January 2025.
Market experts predict move toward $500,000
At press time, Bitcoin traded for less than $200 away from flipping the psychological $100,000 price level. It is now changing hands for $99,836, marking a 3.03% increase in the last 24 hours.Investors have actively engaged with the asset, driving trading volume up by a notable 60.84% to $54.04 billion in the same period.
Already, bullish predictions are pouring in from renowned voices in the sector. For instance, a financial expert, Max Keiser, expects Bitcoin to grow by approximately 410% from its current level. Such a surge could see BTC exchange hands for $500,000 soon.
The coming days will reveal whether the current bullish signal is a sign of BTC’s astronomical movement toward the half-million-dollar zone.