Bitcoin's 'realized cap' holds at record high over $1 trillion, casting doubt on four-year cycle

Bitcoin's 'realized cap,' which represents the total value of all bitcoins in circulation based on the price at which they were last moved, has reached an all-time high, exceeding $1 trillion. This milestone raises questions about the traditional four-year cycle that has often been associated with Bitcoin's price movements and market behavior. Many analysts are now reconsidering whether this latest surge signifies a shift in the established patterns of Bitcoin's valuation and market dynamics, potentially altering the way investors and enthusiasts understand and predict future price trends. source: https://www.coindesk.com/markets/2025/12/18/bitcoin-s-realized-cap-holds-at-record-high-over-usd1-trillion-casting-doubt-on-four-year-cycle