Bitcoin has reached new all-time highs, indicating a surge in capital inflows driven by the success of spot Bitcoin ETFs. Analysts at Glassnode have confirmed that Bitcoin is now in its fourth cycle, with its price surpassing $70,000. This growth has propelled the cryptocurrency into the euphoria zone, attracting significant interest from investors.

According to on-chain data analysis, the Bitcoin Realized Cap has hit a record high of $504 billion, with a $40 billion increase in capital inflows since March 1st. This surge in wealth stored in BTC on-chain has triggered a shift in investor behavior patterns, particularly between HODLers and speculators.

The Realized Cap is currently growing by $54 billion per month, bringing Bitcoin close to levels last seen during the early 2021 bull run. The capital inflows into Bitcoin have been fueled by the approval of new spot ETFs by the U.S. Securities and Exchange Commission in January.

Glassnode has pointed out that the current cycle is similar to previous all-time high breaks, with wealth transfer from HODLers to new investors and speculators well underway. However, analysts have noted a significant level of realized profit being locked in through on-chain spending this week, surpassing statistically high levels. This trend mirrors previous euphoric phases, such as those observed in the 2017 and 2021 bull markets.

Bitcoin’s rally above $73,000 continues despite a swift plunge, indicating strong market momentum. Stay updated with the latest news and trends on Global Crypto News.

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