1 Trillion Dollars! A huge day in Bitcoin history. Realized Cap just hit 1 trillion dollars (net liquidity). So, what’s Realized Cap? It’s the realized value. Meaning, every moving UTXO is calculated at the price it last moved. It’s basically the average cost. ➡️ For example: If I bought BTC last year at 50K and haven’t sold it, the realized value of that BTC is still 50K, which is also my cost basis. If I sell it at 100K, someone else is putting in an extra 50K liquidity. That’s how the total inflow reached 1 trillion dollars! Why average? Because not every moving UTXO means a sale. But this data is widely used in onchain analysis and gives strong signals, like MVRV. Thanks for reading 🙏