Bitcoin’s spot price may have softened since May, but realized cap, delta cap, and thermo cap kept climbing, showing capital continues to build under the surface.
Bitcoin realized market cap stacking shows silent strength beneath price action
While Bitcoin’s price still sits below its ATH, on-chain valuations keep expanding.
4 min read
Updated: Jul. 2, 2025 at 11:01 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock is a global investment management firm and one of the largest asset managers in the world, with a growing presence in digital assets and blockchain related financial products.
Fidelity
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
