Bitcoin Surpasses $1 Trillion Realized Capitalization with Price Above $118,000

Bitcoin is trading above $118,000, with a 1.45% increase in the last 24 hours, resulting in a 30-day gain of 10.42% and a year-to-date performance exceeding 26%. Recent data shows a significant breakout in July, where BTC rose from approximately $105,400 to an all-time high of $122,700 before consolidating below that level.

Key points include:

Bitcoin's realized capitalization has surpassed $1 trillion, indicating increased liquidity and confidence among investors.
Galaxy Digital executed one of the largest bitcoin transactions, totaling over $9 billion for a client, involving 80,000 BTC.
Tesla's previous conversion of 75% of its bitcoin holdings into fiat is highlighted; if retained, their holdings would now be worth over $5 billion.

Technical Analysis Highlights

BTC rallied more than 3% within a 23-hour period, with a trading range of $3,300 between $114,937 and $118,237.
Support resides between $117,140 and $117,330, while resistance is just below $118,200.
The last hour of trading saw minor gains of 0.07%, indicating continued buying interest below key resistance levels.