Glassnode Report: Recent Bitcoin Demand Has Slowed Down

ChainCatcher news, on-chain analytics company Glassnode revealed in its latest weekly report that the demand for Bitcoin has recently slowed down.

The report stated: When rebounding to a new all-time high, Bitcoin's realized cap had been in a sharp upward trend earlier. This rapid growth naturally indicates that capital is actively flowing into the asset. However, recently, the trajectory of this metric has become less steep. Its value is still increasing, and new ATHs are being set, but it is clear that the scale of growth is much smaller than before. Currently, as the market digests the recently allocated supply, the speed of new capital flowing into the Bitcoin network has significantly slowed from its peak.

"Realized cap" refers to the on-chain capitalization model of BTC, which calculates the value of the asset by assuming that the value of each coin in circulation equals its spot price at the last time it moved on the blockchain. Since the last transfer of any coin on the network may be the last time it changed hands, the price at that time can be assumed to be its current cost basis. Therefore, the realized cap is the sum of the cost basis of the entire circulating supply.