比特幣（BTC）剛剛達到了歷史最高水平。但不要以你的思維方式

通過更新此指標，我們可以更好地了解對資產的真實投資以及持有資產的人的信心

An All Time High for bitcoin? Yes, you read that right. But before imagining a sudden explosion of its price, know that it wasn’t in that dimension that the record was reached. In reality, bitcoin crossed a historic threshold in a rarely discussed area: its “Realized Capitalization.” An indicator which, even if it seems less sexy than bitcoin’s price, could signal a major upcoming trend for the digital asset.

比特幣最高的？是的，您讀了正確的。但是在想像價格突然爆炸之前，請先知道並沒有達到記錄。實際上，比特幣在很少討論的領域越過歷史性門檻：“已實現的資本化”。一個指標，即使看起來不如比特幣的價格性感，它也可能標誌著數字資產即將到來的主要趨勢。

Realized Capitalization: a new bullish indicator

已實現的資本化：新的看漲指標

已實現的資本化：新的看漲指標

Bitcoin’s Realized Capitalization recently reached a record level of $882.2 billion, surpassing its previous All Time High. But what does this indicator really mean? Unlike market capitalization, which is based on the current BTC price multiplied by the total supply, Realized Capitalization takes into account the value of each bitcoin based on the price at which it was last moved. It therefore better reflects the actual investment in the asset.

比特幣的實現資本化最近達到了8822億美元的創紀錄水平，超過了以前的歷史最高水平。但是，這個指標到底是什麼意思？與基於當前BTC價格乘以總供應的市值不同，實現的資本化考慮了每個比特幣的價值，該價值是根據上次轉移的。因此，它更好地反映了對資產的實際投資。

The fact that this metric is hitting highs is proof of investors’ confidence in bitcoin. According to CryptoQuant, the analytics platform that noted this ATH, such a historic accumulation of Realized Cap has typically been followed by a bullish rally.

該指標達到高點的事實證明了投資者對比特幣的信心。根據CryptoQuant的說法，指出這一ATH的分析平台，這種歷史性的佔據上CAP的積累通常是看漲的集會。

"Historically, large accumulations of Realized Capitalization have often been followed by significant increases in bitcoin price," the analysts summarize.

分析師總結說：“從歷史上看，大量已實現的資本化通常是比特幣價格大幅上漲的。”

This highlights the importance of this indicator as a precursor signal of a future rise, even if the market remains relatively calm for now.

這凸顯了該指標作為未來上升的前體信號的重要性，即使市場仍然相對平靜。

Price stagnation: just a plateau before the next bullish wave?

價格停滯：只是下一個看漲浪潮之前的平穩？

價格停滯：只是下一個看漲浪潮之前的平穩？

It is clear that bitcoin, though in a stagnation phase, remains in a positive dynamic. Its price fluctuates between 92,000 and 95,000 dollars, but this stability could be the key to its future rise. Rather than a sign of weakness, these sideways movements are often a prelude to a new bullish surge.

顯然，儘管比特幣在停滯階段，但仍處於積極的動態狀態。它的價格波動在92,000至95,000美元之間，但這種穩定可能是其未來上升的關鍵。這些側向運動並不是虛弱的跡象，而是新看漲激增的前奏。

Indeed, bitcoin’s history shows that after every consolidation phase, the price has experienced a sharp increase. This accumulation during calm periods is seen as a waiting moment before a price explosion.

確實，比特幣的歷史表明，在每個整合階段之後，價格都會急劇上升。在平靜期間的這種積累被視為價格爆炸之前的等待時刻。

Investment volumes and Realized Capitalization continue to grow, which could very well signal the preparation of a new bullish wave. A few days ago, CryptoQuant observed that "Realized Cap continues to rise while prices stagnate. This shows the inflow of capital without the price increasing yet, which is typical before a new surge."

投資量和實現的資本化繼續增長，這很可能表明準備了新的看漲浪潮。幾天前，加密素養觀察到“實現的上限繼續上漲，而價格則停滯不前。這表明資本的流入尚未上漲，這是典型的新增長。”

This accumulation of BTC by investors reinforces the likelihood that the $100,000 resistance will soon be broken. It is therefore reasonable to think that breaking this price zone could open the way to a much larger bull market.

投資者對BTC的積累增強了100,000美元的抵抗力很快被打破的可能性。因此，可以合理地認為打破這個價格區可以為更大的牛市開闢道路。

Current situation: confidence, accumulation, and outlook

當前情況：信心，積累和前景

當前情況：信心，積累和前景

Despite bitcoin's price stagnation, confidence in the cryptocurrency remains evident. Investors are more engaged than ever, and this long-term accumulation approach shows increased market stability. Bitcoin continues to captivate both small and large investors, reinforcing the perception that it is now a safe haven against the traditional volatility of financial markets.

儘管比特幣的價格停滯，但對加密貨幣的信心仍然很明顯。投資者比以往任何時候都更加參與，這種長期積累方法顯示了市場穩定的提高。比特幣繼續吸引小型投資者和大型投資者，從而增強了人們的看法，即現在是對金融市場傳統波動的避風港。

The effect of Realized Cap can also be explained by the growing confidence of institutional and individual players in the cryptocurrency, increasingly viewed as a safe asset. The CryptoQuant quote further supports this analysis: "The capital entering the market is proof that investors believe in a solid future for bitcoin."

實現的帽子的影響也可以通過機構和個人參與者在加密貨幣中的信心日益增強來解釋，越來越多地將其視為安全資產。加密的報價進一步支持了這一分析：“進入市場的資本證明了投資者相信比特幣的穩固未來。”

Many investors are eagerly awaiting the next rise, convinced that current signals are an excellent omen for bitcoin’s future. Although bitcoin is currently stagnant, the ATH in Realized Capitalization is a strong signal. This massive capital investment seems to be laying the groundwork for a future rise. Moreover, according to Standard Chartered, a very optimistic forecast places bitcoin’s price at $200,000 for the year 2025. With such a solid investment base and this symbolic record, all elements are set for bitcoin to reach new highs in the coming months.

許多投資者熱切地等待下一個上升，堅信當前的信號是比特幣未來的絕佳兆頭。儘管比特幣目前停滯不前，但實現資本化的ATH是一個強烈的信號。這項巨大的資本投資似乎為未來的增長奠定了基礎。此外，根據《標準憲章》的說法，一個非常樂觀的預測比特幣的價格為2025年的200,000美元。憑藉如此穩定的投資基礎和象徵性的記錄，所有要素都設定為比特幣在接下來的幾個月中達到新的高點。