Feb 11, 2026
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BEARISH 📉 : Bitcoin Market Cap Drops Amid Heavy Selling Pressure
The founder of CryptoQuant has highlighted that Bitcoin is currently not "pumpable" due to the divergence between its Market Cap and Realized Cap.
- The Market Cap represents the total value of Bitcoin's supply at current prices, while the Realized Cap accounts for the value based on the last transaction price of each coin.
- In 2024, a $10 billion increase in Realized Cap led to a $26 billion rise in Market Cap. However, in 2025, despite a $308 billion inflow, the Market Cap fell by $98 billion due to heavy selling pressure.
- The difference in growth rates turned negative in late 2025, indicating a decline in Market Cap as opposed to Realized Cap.
Additionally, new whales, or investors holding over 1,000 BTC for less than 155 days, have been capitulating, experiencing substantial losses, including a $1.46 billion loss spike on February 5th.
Currently, Bitcoin is priced around $68,500, marking a decline of over 12% in the past week.
