Bitcoin Hits $77,000 For First Time, Reaching All-Time High

Bitcoin and the crypto market have been on a roll since the US election results were published early Wednesday, November 6. The leading cryptocurrency has achieved fresh highs in recent days.

BTC hit a record high over $77,000 on Friday, November 8, showing no indications of weakening heading into the weekend. On-chain data reveals that the Bitcoin price's hot run is long overdue, notwithstanding former president Donald Trump's recent success.

BTC's Realized Cap Rises Most in Two Years

Realized cap indicator is one of the newest on-chain measures to provide light on Bitcoin's spectacular ascent. Blockchain analytics startup Glassnode said on November 8 on the X platform that Bitcoin's realized valuation topped $656 billion, a record high.

For clarification, the realized cap metric reflected Bitcoins' final transaction value. This is a more interesting technique to analyze the cost basis (the time the coins changed hands) than market capitalization, which is calculated by multiplying the quantity of circulating coins by the market price.

Glassnode data reveals that the Bitcoin realized cap rose 3.8% in the previous 30 days, one of the highest jumps since January 2023. As indicated in the figure below, the 30-day net change has largely been green since the start of the year, indicating good growth.

The realized cap statistic also shows capital flows into and out of the flagship coin. The latest rise, a net capital influx of almost $2.5 billion in the previous month, suggests additional retail and institutional investors.

The market cap and Bitcoin price have been stabilizing for months, but a recent spike above $656 billion shows that the dominant cryptocurrency may be going from “reaccumulation” to markup. A continuance of capital influx might keep Bitcoin prices rising in the coming months.


Bitcoin is now worth $76,700, down from $77,000. CoinGecko reports the market leader up 10% in the previous week.

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