Bitcoin dip purchasers capitalize on BTC’s lower range, but remain cautious until $90K solidifies as support.

Bitcoin’s (BTC) realized market cap has achieved a record high of $872 billion, yet data from Glassnode indicates a lack of enthusiasm among investors at the current price levels. In a recent post on X, the analytics platform noted that despite this milestone, the monthly growth rate of the realized cap metric has fallen to 0.9% month-over-month, suggesting a risk-averse sentiment in the market. Bitcoin realized cap net position. Source: X.comRealized cap gauges the total value of all Bitcoin based on the price at which they last moved, reflecting the actual capital invested and offering insights into Bitcoin’s economic activity. A declining growth rate signifies a positive but diminished capital inflow, indicating fewer new investors or reduced activity from existing holders.Additionally, Glassnode’s chart showing realized profit and loss recently experienced a sharp 40% decline, indicating significant profit-taking or loss realization. The data platform explained, “This suggests saturation in investor activity and often precedes a consolidation phase as the market seeks a new equilibrium.”While new investors appear to be inactive, existing investors may be taking a cautious approach due to the realized price for short-term holders. Data from CryptoQuant indicates that the current realized price for short-term holders is $91,600. With BTC currently consolidating below this threshold, it suggests that short-term holders may be facing losses, which could lead to increased selling pressure if they decide to sell to minimize those losses.Bitcoin short-term holders’ price and MVRV. Source: CryptoQuantIn a related context, Bitcoin’s short-term holder market value to realized value has remained below 1, which historically marks levels associated with buying opportunities and further indicates that short-term holders are at a loss.Related: Bitcoin US vs. offshore exchange ratio flashes bullish signal, hinting at potential BTC price highs in 2025Bitcoin movements among US and Korean traders data demonstrate a sentiment divergence. The Coinbase premium, reflecting US trading, recently surged, suggesting strong US demand and potential upward movement in Bitcoin prices. In contrast, the Kimchi premium index has decreased amid the correction, indicating weaker retail engagement among traders from Korea.This disparity in demand is mirrored in Bitcoin’s recent price movements. The chart illustrates that Bitcoin’s price has fluctuated between a narrow range of $85,440-$82,750 since April 11. On the 4-hour chart, BTC has held support from the 50-day, 100-day, and 200-day moving averages, while on the 1-day chart, these indicators have imposed resistance on the bullish structure.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewRelated: Bitcoin online chatter turns optimistic as price fluctuates around $85K: SantimentThis article is intended for informational purposes only and does not constitute investment advice or recommendations. Every investment and trading decision carries risk, and readers should perform their own research before making any decisions.