- Bitcoin’s realized capitalization reached $882.228 billion, indicating strong investor confidence.
- Social Dominance at 25.81% reflected increased engagement, signaling potential bullish momentum.
Bitcoin’s [BTC] Realized Capitalization reached $882.228 billion on the 29th of April, highlighting growing confidence in the asset.
The higher Realized Capitalization suggests that the market is preparing for a significant price move.
At press time, BTC traded at $94,664.28, down 0.33% over the past 24 hours. Despite the dip, sentiment remained broadly optimistic.
Rising engagement reflects growing interest in Bitcoin
On top of that, Bitcoin’s Social Dominance stood at 25.81%, reflecting a significant increase in market attention.
Social Volume has surged steadily, showing more participants are discussing Bitcoin. As BTC gains more social attention, investor sentiment could continue to grow.
Increased chatter around BTC often precedes price moves. In fact, heightened social interest may attract fresh capital if the trend holds.
Source: Santiment
Bitcoin’s NVT ratio stood at 460.14, indicating that its price is undervalued compared to transaction volume. A high NVT ratio shows the market value has yet to catch up with on-chain activity.
This imbalance suggests BTC may rise as the market adjusts to increased activity. With strong transaction flow, Bitcoin is likely to maintain its bullish trend if the momentum continues.
Strong bullish trend despite recent market corrections
Bitcoin’s Price DAA Divergence chart shows a -217.59% divergence, indicating that price increases outpace Daily Active Addresses (DAA).
Despite short-term price corrections, active market participation remains strong, supporting BTC’s bullish outlook.
The continued divergence suggests that there is strong demand for BTC, even amid market fluctuations.
Active Addresses have not slowed down, reinforcing the idea that the bullish trend will likely continue, even if market corrections happen.
Source: Santiment
The Binance BTC/USDT Liquidation Heatmap shows that long liquidations dominate near the $94K level. This suggests that BTC faces potential downward pressure as long positions are liquidated.
The dominance of long liquidations increases the risk of short-term volatility. However, if short positions start to get liquidated, Bitcoin could see a sharp upward move.
Can BTC maintain momentum above $94K?
Bitcoin is testing key resistance levels near $95,709 and $98,666, with current price action showing signs of potential for further upward movement.
BTC currently trades close to its upper Bollinger Band — a position that often precedes breakouts when pressure builds.
Moreover, the MACD remained bullish. With the MACD line at 2,965.81 above the signal line at 2,289.86, momentum clearly favored buyers.
Source: TradingView
Bitcoin’s Realized Capitalization at $882.228 billion, along with Social Dominance at 25.81%, indicates strong market confidence and interest.
The NVT ratio of 460.14 supports the idea that BTC is undervalued relative to its on-chain activity, suggesting the potential for price growth.
While long liquidations remain a risk, the MACD momentum and proximity to resistance levels suggest BTC may soon breach $95,709 — and possibly aim for $98,666.