Bitcoin Records Realized Market Cap ATH Amid Bullish Recovery


New on-chain statistics suggest that Bitcoin (BTC) is more valuable today than ever for the ecosystem, despite the difference between its current price and that of its all-time high days.

The statistics, curated by on-chain data provider Glassnode, noted that the current “realized” market capitalization of Bitcoin (BTC) surpasses the figures recorded in April 2021 when BTC price peaked. According to a recent tweet, the company noted that BTC registered a revised cap of $378,768,190,450.72.

The realized cap is the “true” nature of the total value moved through Bitcoin. Market capitalization is a prominent statistical tool used by crypto enthusiasts and is derived by multiplying the current price of the asset by the total number of the crypto-asset in circulation.

Meanwhile, other developments also attest to BTC’s maturity as an asset. Some weeks ago, the core developers of the primary cryptocurrency launched the Taproot update on the network to boost its security and efficiency. Simply put, the Taproot update makes transactions more private, cheaper, and requires less space by grouping several signatures into a kind of single master key. That said, this upgrade should get implemented by the end of the year.

Key Bitcoin Levels to Watch — August 15

As projected in a previous analysis, BTC recorded a modest correction to the $44,000 support to ease out of overbought conditions before posting another rally above the $48,000 level.

BTCUSD – 4-Hour Chart

However, bears have managed to push the cryptocurrency slightly below the $46,000 support over the past few hours. That said, the primary cryptocurrency could use this bearish move as a minor correction and push higher soon, considering that the price currently rests around our ascending trendline, 50 SMA, and $46,000 line. If this support holds, we should see a bullish continuation over the coming hours and days.

Meanwhile, our resistance levels are at $47,000, $48,300, and $49,500, and our key support levels are at $45,000, $44,000, and $43,000.

Total Market Capitalization: $1.95 trillion

Bitcoin Market Capitalization: $863.4 billion

Bitcoin Dominance: 44.2%

Market Rank: #1


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.