比特币（BTC）刚刚达到了历史最高水平。但不要以你的思维方式

通过更新此指标，我们可以更好地了解对资产的真实投资以及持有资产的人的信心

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.

比特币最高的？是的，您读了正确的。但是在想象价格突然爆炸之前，请先知道并没有达到记录。实际上，比特币在很少讨论的领域越过历史性门槛：“已实现的资本化”。一个指标，即使看起来不如比特币的价格性感，它也可能标志着数字资产即将到来的主要趋势。

Realized Capitalization: a new bullish indicator

已实现的资本化：新的看涨指标

已实现的资本化：新的看涨指标

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.

比特币的实现资本化最近达到了8822亿美元的创纪录水平，超过了以前的历史最高水平。但是，这个指标到底是什么意思？与基于当前BTC价格乘以总供应的市值不同，实现的资本化考虑了每个比特币的价值，该价值是根据上次转移的。因此，它更好地反映了对资产的实际投资。

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.

该指标达到高点的事实证明了投资者对比特币的信心。根据CryptoQuant的说法，指出这一ATH的分析平台，这种历史性的占据上CAP的积累通常是看涨的集会。

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

分析师总结说：“从历史上看，大量已实现的资本化通常是比特币价格大幅上涨的。”

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

这凸显了该指标作为未来上升的前体信号的重要性，即使市场仍然相对平静。

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

价格停滞：只是下一个看涨浪潮之前的平稳？

价格停滞：只是下一个看涨浪潮之前的平稳？

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.

显然，尽管比特币在停滞阶段，但仍处于积极的动态状态。它的价格波动在92,000至95,000美元之间，但这种稳定可能是其未来上升的关键。这些侧向运动并不是虚弱的迹象，而是新看涨激增的前奏。

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.

确实，比特币的历史表明，在每个整合阶段之后，价格都会急剧上升。在平静期间的这种积累被视为价格爆炸之前的等待时刻。

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."

投资量和实现的资本化继续增长，这很可能表明准备了新的看涨浪潮。几天前，加密素养观察到“实现的上限继续上涨，而价格则停滞不前。这表明资本的流入尚未上涨，这是典型的新增长。”

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.

投资者对BTC的积累增强了100,000美元的抵抗力很快被打破的可能性。因此，可以合理地认为打破这个价格区可以为更大的牛市开辟道路。

Current situation: confidence, accumulation, and outlook

当前情况：信心，积累和前景

当前情况：信心，积累和前景

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.

尽管比特币的价格停滞，但对加密货币的信心仍然很明显。投资者比以往任何时候都更加参与，这种长期积累方法显示了市场稳定的提高。比特币继续吸引小型投资者和大型投资者，从而增强了这种看法，即现在是对金融市场传统波动的避风港。

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."

实现的帽子的影响也可以通过机构和个人参与者在加密货币中的信心日益增强来解释，越来越多地将其视为安全资产。加密的报价进一步支持了这一分析：“进入市场的资本证明了投资者相信比特币的稳固未来。”

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.

许多投资者热切地等待下一个上升，坚信当前的信号是比特币未来的绝佳兆头。尽管比特币目前停滞不前，但实现资本化的ATH是一个强烈的信号。这项巨大的资本投资似乎为未来的增长奠定了基础。此外，根据《标准宪章》的说法，一个非常乐观的预测比特币的价格为2025年的200,000美元。凭借如此稳定的投资基础和象征性的记录，所有要素都设定为比特币在接下来的几个月中达到新的高点。