Source: Cointelegraph
Original: “Capital Inflows Surge, Bitcoin (BTC) Bulls Aim for New All-Time Highs Next Week”
Key Points:
Bitcoin (BTC) realized market capitalization has increased by $30 billion since April 20, reflecting ongoing investor confidence and new capital inflows.
The consolidation pattern of Bitcoin prices predicts a potential 10% breakout growth next week.
Bitcoin (BTC) continues to show strong upward momentum, with new capital inflow signals indicating that a new price high may be reached in the coming week. According to a report released by Glassnode on the X platform, Bitcoin's realized market capitalization (used to measure the total value based on the price at which each Bitcoin was last transferred) has increased by $30 billion since April 20, growing at a rate of 3% per month in May. The current realized market capitalization has reached $900 billion.
Although the growth rate is not as rapid as the 8% surge when Bitcoin reached $93,000 at the end of 2024, this upward trend highlights the sustained and stable confidence of market investors and the positive trend of new capital continuously flowing into the market.
The market outlook is more optimistic, as Glassnode data analysis shows a significant shift in market dynamics. The 7-day simple moving average (7-day SMA) of Bitcoin's spot trading volume difference has turned positive, climbing to nearly $5 billion on May 13.
This strong net spot buying demand (highlighted in the chart, which has only occurred a few times this year) strongly confirms the solid spot market confidence behind Bitcoin's recent breakthrough of the psychological resistance level of $100,000. The significant increase in spot buying pressure indicates that the driving force behind this rally comes from substantial participation by institutional and retail investors, rather than being limited to leveraged trading activities.
Despite the current growth pace of realized market capitalization being more moderate compared to the sharp increase of $50 billion at the end of 2024, overall market sentiment remains optimistic.
Since bottoming out in the $74,500 range in early April, Bitcoin has shown a trend of orderly consolidation and expansion. Over the past four weeks, a clear pattern has emerged: whenever Bitcoin reaches key price levels, it undergoes a period of horizontal consolidation, followed by a breakout to higher price ranges. This pattern has repeated twice, and the third consolidation phase is currently underway.
Each price stage exhibits a similar pattern, forming gradually increasing upper and lower ranges. The bottom range is typically tested at least once before Bitcoin hits a new high. The Relative Strength Index (RSI) corroborates this price behavior, reaching overbought levels at new highs and falling back to around 50 during the consolidation phase.
Currently, Bitcoin is consolidating between the upper range of $105,700 and the lower range of $100,678. If this pattern continues, Bitcoin may retest the $100,000-$102,000 range before breaking above $110,000. However, if the price falls below $102,000 and fails to recover quickly, it may confirm a bearish signal.
Related: Report: Bitcoin (BTC) is More Like a "Diversified Investment Tool" Rather Than a Safe-Haven Asset
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