Bitcoin SoV Thesis Gains Traction: Metrics Show $1.03 Trillion On Network

Bitcoin remains above critical demand levels despite its recent slide from all-time highs.

CryptoQuant CEO recently provided strong off-chain and on-chain stats, bolstering Bitcoin. The data shows that Bitcoin network capital has risen to $1.03 trillion.

In a volatile market, Bitcoin's capacity to stay above crucial levels provides stability. Investors and traders are watching to see whether this new support will lead to a rebound or if market factors will push BTC down.

Bitcoin had a great 2024, with price increase and important data showing the network's robustness. Data shows Bitcoin's status as a Store of Value (SoV) is clearer than ever as the year ends.

Using off-chain and on-chain data, CryptoQuant CEO Ki Young Ju revealed that the estimated capital kept on the Bitcoin network has reached $1.03 trillion, an 85% rise over the previous year.

This rise suggests that BTC is becoming a long-term investment rather than speculation. Ju emphasizes that the $2 trillion market value is not the only factor. Add $1 to BTC and its market cap doesn't rise $1. Instead, we may estimate capital inflow using off-chain and on-chain data.

Combining these measurements yields the SoV Index, which measures Bitcoin's genuine capital flow. This clarifies BTC's worth and expanding stature as a worldwide store of wealth, with facts supporting its basic strength until 2025.

BTC breaking over $100K and holding there as support would suggest a positive confirmation, perhaps triggering a fresh market rise. If maintained, this psychological level would boost the rally.

However, if bulls lose the important support level of $92K to $90K, the market may drop further. If this support breaks, selling may continue, perhaps probing lower levels.

These levels may decide Bitcoin's short-term trajectory. To understand Bitcoin's future, keep a watch on these important zones as the market reacts to external influences.

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