BlockBeats News, June 30th, CryptoQuant analyst Axel Adler Jr posted that "the Bitcoin indicator based on Realized Cap Distribution shows how expensive Bitcoin's current price is relative to the actual investment cost of all holders. Realized Cap is the total dollar value corresponding to the price at which all bitcoins last moved on-chain."
The calculation formula is: Bitcoin Price / Realized Cap = Ratio.
Currently, the Bitcoin price is slightly above the annual average ratio level (similar to November 2024 when the ratio was at this level, and Bitcoin subsequently rose from $74,000 to $107,000). This means that Bitcoin is currently neither overbought nor oversold— the market is in a neutral range."
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