"Bitcoin ( ) has seen $732 billion in new capital inflows since its 2022 cycle low, exceeding all previous bull runs combined. This surge in institutional and ETF-driven investment has pushed Bitcoin's realized market cap to record highs-$1.1 trillion-even as prices consolidate below peak levels. Past crypto winters brought panic but this wave of capital signals something different-a structural shift toward maturity, with Bitcoin's volatility falling and liquidity deepening."
"One-year realized volatility has almost halved, from roughly 84% down to about 43% this cycle. That reflects deep liquidity and patient investors. Bear markets feature spikes in volatility and disappearing liquidity, but this cycle shows the opposite pattern. Daily spot trading volumes have roughly doubled versus the last cycle. Bitcoin now averages $8-22 billion per day, up from $4-13 billion previously."
Bitcoin has received approximately $732 billion in net new capital since the November 2022 cycle low, surpassing inflows from all previous cycles combined and lifting realized market capitalization to about $1.1 trillion. One-year realized volatility has fallen from roughly 84% to about 43% this cycle, reflecting deeper liquidity and more patient investors. Daily spot trading volumes have roughly doubled to $8-22 billion per day, and futures open interest sits at a record $68 billion with about 30% on CME. Historic inflows, record invested capital, rising volumes, and falling volatility point to a structural mid-cycle reset rather than a traditional crypto winter.
Read at 24/7 Wall St.
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