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Bitcoin’s (BTC)<\/a> realized market cap reached a new all-time high of $872 billion, but data from Glassnode reflects investors’ lack of enthusiasm at BTC’s current price levels. <\/p>\n In a recent X post, the analytics platform pointed<\/a> out that despite the realized cap milestone, the monthly growth rate of the metric has dropped to 0.9% month over month, which implied a risk-off sentiment in the market. <\/p>\n Realized cap measures the total value of all Bitcoin at the price they last moved, reflecting the actual capital invested, providing insight into Bitcoin’s economic activity. A slowing growth rate highlights a positive but reduced capital inflow, suggesting fewer new investors or less activity from current holders.<\/p>\n Additionally, Glassnode’s realized profit and loss chart recently exhibited a sharp decline of 40%, which signals high profit-taking or loss realization. The data platform explained,<\/p>\n “This suggests saturation in investor activity and often precedes a consolidation phase as the market searches for a new equilibrium.”<\/p><\/blockquote>\n While new investors remained sidelined, existing investors are probably adopting a cautious approach due to the short-term holder’s realized price. Data from CryptoQuant suggested<\/a> that the current short-term realized price is $91,600. With BTC currently consolidating under the threshold, it implies short-term holders are underwater, which can increase selling pressure if they sell to cut their losses.<\/p>\n Similarly, Bitcoin’s short-term holder market value to realized value remained below 1, a level historically associated with buying opportunities and further proof that short-term holders are at a loss.<\/p>\n Related: Bitcoin US vs. offshore exchange ratio flashes bullish signal, hinting at BTC price highs in 2025<\/strong><\/em><\/a><\/p>\n Data shows<\/a> a sentiment divergence between Bitcoin traders in the US and Korea. The Coinbase premium, reflecting US trading, recently spiked, signaling strong US demand and potential Bitcoin price gains. <\/p>\n Conversely, the Kimchi premium index fell during the correction, indicating lagging retail engagement among Korea-based traders.<\/p>\n This particular uneven demand is reflected in Bitcoin’s recent price action. The chart shows that Bitcoin’s price has oscillated between a tight range of $85,440-$82,750 since April 11. On the 4-hour chart, BTC has retained support from the 50-day, 100-day, and 200-day moving averages, but on the 1-day chart, these indicators are putting resistance on the bullish structure.<\/p>\n![\"Coinbase,](\"http:\/\/www.thebusinesschain.com\/wp-content\/uploads\/2025\/04\/019644a8-de25-79dc-b6b3-ea53f45c2ea7-scaled.jpg\" "\\"\\"")
Bitcoin chops between US and Korean traders<\/h2>\n
![\"Coinbase,](\"http:\/\/www.thebusinesschain.com\/wp-content\/uploads\/2025\/04\/019644c5-51d8-7437-a791-87f2693c598b-scaled.jpg\" "\\"\\"")