Bitcoin (BTC) this week hit a fresh all-time high, as bearish sentiments in the market failed to undermine the index to $ 106 billion.
Data from Coin Metrics Network Monitor supplier shows that as of June 11, Bitcoin’s realized capitalization has reached a record $ 106.26 billion.
Realized cap for “Bitcoin”
Realized capitalization is another way to calculate Bitcoin value, and is an alternative to regular market value.
The number is calculated by taking the price at which the last bitcoin was traded and the size of each transaction, and then multiplied together.
Originally drafted by Coin Metrics, the index’s popularity has increased among analysts and well-known cryptocurrency indicators. In response to the latest highlights, a Bitcoin Twitter account described the progress as “good for bitcoin.”
Realized capitalization fell somewhat after the crash in March and lost a maximum of $ 1 billion before continuing to rise.
This confirms the structure – in fact, Bitcoin lost 60% of the price at the time, while overall, as Cointelegraph reported, more than 60% of deliveries were not transferred during the year.
For the first time in August 2019, Bitcoin exceeded the $ 100 billion mark.
The index of fear and greed decreases by 14 points a day
The threshold provides a marked contrast to overall market sentiment this week. On Thursday, bearish signals ended with a wave of pressure on stock market sales, which in a few hours reduced BTC / USD by 8%.
The move negatively affected the crypto fear and greed index, which measures the trader’s position.
The index fell in a “neutral” area with a score of 53/100 and unexpectedly decreased 15 points to 38/100, indicating a return to the “fear” area.
In theory, the closer the indicator is to zero, the more traders are said to be disproportionately bearish.
Earlier this year, a record seven weeks was set in the lowest category of “extreme fears”.