Realized Cap is a metric that counts each coin (UTXO) when it was last traded on the network. Currently, Realized Cap is at $461 billion, up $3 billion or 0.66%, indicating low movement and stagnant net capital inflows.

1. At the market peak, Realized Cap stops rising, indicating stabilization and a shift in the capital trend from profit to loss.

2. Recovery from a bear market, where HODL determines the market bottom and capital flows evenly into Bitcoin.

3. Bull market rally, when the market approaches ATH, HODL who bought at low prices tend to sell at high prices.

Since August, the movement and net inflows by investors have shown a recovery phase, but the increase is almost non-existent. This indicates that net capital inflows are truly stagnant.

Thus, the profits earned by HODL are comparable to peak buyers (STH). To overcome this liquidity neutrality, a significant movement in Bitcoin is needed in the next 30 days.