Bitcoin just smashed its all-time high, soaring past $98,000! This surge is happening alongside a massive influx of cash into the crypto market.
Billions Pouring In
According to Glassnode, a crypto analytics firm, over $62.9 billion has flowed into the crypto market in the last 30 days. They use two key metrics to figure this out:
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Bitcoin & Ethereum Net Position Change: This tracks changes in the “Realized Cap” of Bitcoin and Ethereum. Think of the Realized Cap as the total amount investors have actually paid for all the coins in circulation. If this number goes up, it means more money is flowing in.
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Stablecoin Net Position Change: This measures changes in the total supply of major stablecoins (like Tether and USDC). Since stablecoins are pegged to the US dollar, their market cap directly reflects the amount of money entering the market.
The chart below shows the combined 30-day inflow of both Bitcoin/Ethereum and stablecoins. Recently, this number has exploded upwards, indicating a huge surge in investment.
[Unfortunately, I cannot display the chart here as I am a text-based AI.]
Glassnode’s report highlights that Bitcoin and Ethereum networks absorbed $53.3 billion of this inflow, while stablecoins saw a $9.6 billion increase. While not a perfect measure of the entire crypto market, this data gives a good indication of overall investment trends. Altcoins typically see increased activity after Bitcoin and Ethereum experience significant inflows.
Bitcoin’s Price Action
Bitcoin briefly touched almost $98,400 before experiencing a slight dip, settling around $97,100 at the time of writing.
