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Bitcoin Records Highest Growth Since January 2023 Amid ATH Surge

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In Brief

  • Bitcoin hits new all-time highs, supported by strong market fundamentals and lower NVT Ratio, signaling sustainable growth.
  • Realized Cap reaches an ATH of $656 billion, with a 3.8% monthly growth, highlighting significant capital inflows.
  • BTC could test $73,773 support before climbing toward $80,000; failure to hold may risk a dip to $71,367, affecting bullish sentiment.
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Bitcoin has recently seen a remarkable uptrend, with the cryptocurrency reaching new all-time highs almost daily this week. Unlike previous peaks, this rally appears more sustainable, driven by robust market fundamentals. 

Bitcoin’s consistent growth has drawn significant attention, positioning the asset for even more potential upside.

Bitcoin Gains Strength

As per Glassnode’s analysis Bitcoin’s Realized Cap has risen by 3.8% over the past 30 days, marking one of the most substantial inflow levels seen since January 2023. This increase reflects heightened investment activity and growing confidence in the cryptocurrency’s value stability.

“The Realized Cap is currently trading at an ATH value of $656 billion, supported by a net 30-day capital inflow of $2.5 billion,” Glassnode noted.

Bitcoin Realized Cap.
Bitcoin Realized Cap. Source: TradingView

The macro momentum for Bitcoin is strong, supported by the NVT (Network Value to Transactions) Ratio, which currently stands at a three-month low. A lower NVT Ratio indicates that Bitcoin is not overvalued, reducing the likelihood of an immediate correction.

This undervaluation, as shown by the NVT, suggests that Bitcoin’s growth is not driven by speculative excess, as in previous rallies. With its value rooted in transactional strength, Bitcoin appears well-positioned to maintain its upward trajectory, drawing confidence from investors who view this as a more stable phase of growth.

Bitcoin NVT Ratio
Bitcoin NVT Ratio. Source: TradingView

BTC Price Prediction: ATHs Continue

At the time of writing, Bitcoin is trading at $76,443 after achieving a new all-time high of $77,175 during intra-day trading on Friday. This continued rise reflects Bitcoin’s strength in the face of broader economic shifts and confirms strong buyer interest.

While Bitcoin is on the verge of crossing $80,000, it may see a slight dip to test support around $73,773. This pullback would allow BTC to consolidate before resuming its uptrend, maintaining healthy growth without triggering overbought conditions.

Bitcoin Price Analysis.
Bitcoin Price Analysis. Source: TradingView

If, however, Bitcoin fails to rebound from this level and investors begin profit-taking, the price could dip further. A fall below $73,773 might lead to a decline to $71,367, which would challenge the current bullish outlook and introduce caution for short-term traders.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...
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