Lawrence Jenger
July 23, 2025 14:03
According to GlassNode, Bitcoin’s realization cap will reach $1 trillion in Altcoins, led by Ethereum, driven by a surge in value, along with the surge in value.
According to GlassNode, Bitcoin has achieved a significant milestone by reaching its $1 trillion realization cap. This achievement highlights the deep liquidity and increasing importance of Bitcoin in the macroeconomic landscape. The surge in Bitcoin’s value, which saw its price rise from $105.4K to a record 122.7k, was accompanied by significant profits from existing owners and an influx of new buyers.
Surges in the Altcoin Market
Bitcoin continues to consolidate, but the Altcoin market has experienced an astonishing rally. Ethereum in particular led the price, with Altcoin’s market capitalization rising by $216 billion in just two weeks. This surge is marked by Ethereum breaking through major resistance levels, but the selling side pressure is expected around the $4.5,000 mark.
GlassNode’s AltSeason indicator confirms that AltSeason conditions have been in place since early July, due to capital inflows into Bitcoin and Ethereum, rising Stablecoin Supplies and upward momentum in Altcoin’s market capitalization.
Speculative activity and derivatives
Speculative enthusiasm is evident in the derivatives market, where open interest in top altcoins such as Ethereum, Solana, XRP and Dogecoin grew from $26 billion to $44 billion in July. This increased leverage indicates an increase in speculative activity, indicating that this could lead to increased volatility.
The long-standing futures contract financing premium reached approximately $32.9 million per month, reflecting strong demand for leveraged long positions. Ethereum’s open profit control has also increased, highlighting a shift in the market focus from Bitcoin to Ethereum.
Market dynamics and future outlook
Ethereum’s recent performance has been characterized by a rotation of trade volume, and with the low 2022 cycle, Ethereum’s persistent volume advantage is surpassing Bitcoin for the first time. This trend indicates a major shift in speculative interest in the Altcoin sector.
As the market continues to evolve, Ethereum’s cost-based distribution profile suggests that the $2,400 to $2,800 range is a critical level of support. The current rally could encounter resistance around the $4,500 mark, a level related to previous market well-being.
For more detailed insights, see the original GlassNode report.
Image source: ShutterStock
