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What happened in the cryptocurrency market during the week of 4 June

What happened in the cryptocurrency market during the week of 4 June

Jun-4-2024 10:32:58 AM

Researchers at CryptoSlate reported that the realised capitalisation of bitcoin (BTC) has shown significant growth, reaching $600bn. According to them, this reflects increased investor confidence after halving in 2024. The experts emphasised that this metric offers a detailed assessment, taking into account the price at which the last transaction was made for each BTC. This provides a more accurate measure than market capitalisation, which is subject to price fluctuations given inactive coins.

The latest data points to an increase in realised profits, which peaked at $3.3bn in early April. This signals large-scale investor fixation. Despite the massive sell-off, the overall market trend points to asset accumulation throughout 2024. As assured by analysts, this suggests a steady underlying demand for Bitcoin (BTC). This dynamic emphasises the stability of the market in the face of short-term volatility.