Bitcoin inflows are increasing, coinciding with a growing realized cap, which could indicate an ongoing bullish trend: Bitfinex.
Bitcoin is displaying an impressive resurgence in 2025, fueled by the harmonious interplay of on-chain data, favorable macroeconomic conditions, rising institutional interest, shifting market dynamics, and evolving digital asset regulations.
Take a gander at the Bitfinex Alpha blog from May 13, where they reported that the realized market cap of Bitcoin has snowballed to an unprecedented $889 billion following a 2.1% increase within the past month. Unlike the traditional market cap, the realized cap evaluates each coin based on the price at which it was last moved, providing a more accurate picture of the capital flowing into the market. This approach highlights the sustained buying interest and institutional presence within the Bitcoin ecosystem.
Spot exchange-traded funds (ETFs) exhibited net inflows exceeding $920 million over the past two weeks, testament to the robust institutional interest in Bitcoin. Simultaneously, on-chain data indicates that the number of coins held at a loss has substantially decreased, with over 3 million BTC returning to profitability. This suggests a marked improvement in market sentiment and a reduction in sell-side pressure.
The declining Bitcoin dominance might also hint at an oncoming altcoin season, according to the COO of MEXC, as Bitcoin falls 32% from its record high established earlier in the year but quickly recovers, climbing back above the $100,000 mark after a three-month hiatus. Bitfinex analysts attribute this uptick to a cooling of international trade tensions and the Federal Reserve's more accommodating stance.
David Godman, a researcher at The Cambridge Centre for Alternative Finance, explains that "while broader risk markets have reacted favorably to this macro backdrop, Bitcoin has outperformed equities, substantiating its position as a high-conviction asset for numerous investors."
U.S. digital asset legislation remains up in the air. The Genius Act, a key bill, faltered in the Senate by a close vote, indicating ongoing disagreements on regulation. However, states like New Hampshire are advancing with legislation that encourages digital asset investment like Bitcoin.
Tether has added an impressive 4,812 BTC to Twenty One Capital's treasury ahead of its public listing. The injection of Bitcoin into their reserves indicates that these institutions anticipate ongoing growth and recognition of Bitcoin as a legitimate asset class, further solidifying its position in the global financial landscape.
The recent surge in Bitcoin's realized cap, institutional presence, and improved market sentiment suggest that this rally has deeper roots than previous ones, potentially leaving room for further growth.
- The Bitfinex Alpha blog reported that the realized market cap of Bitcoin has reached an unprecedented $889 billion, highlighting the sustained buying interest and institutional presence within the Bitcoin ecosystem.
- Spot exchange-traded funds (ETFs) have shown net inflows exceeding $920 million over the past two weeks, demonstrating robust institutional interest in Bitcoin.
- David Godman, a researcher at The Cambridge Centre for Alternative Finance, notes that Bitcoin has outperformed equities, substantiating its position as a high-conviction asset for numerous investors.
- Tether, a major player in the crypto market, has added 4,812 BTC to Twenty One Capital's treasury, indicating that these institutions anticipate ongoing growth and recognition of Bitcoin as a legitimate asset class.
