Odaily星球日报讯 根据 Glassnode 最近的一份报告，自 2022 年 11 月以来，比特币已吸收了约 4500 亿美元的额外资本，使总已实现市值（Realized Cap）达到 8500 亿美元，成为各国和机构关注的全球宏观资产。 其表示，比特币已实现市值的增长是由其在全球舞台上日益重要的作用推动的，这吸引了机构和主权实体。该报告强调民族国家参与比特币是一个关键因素，包括不丹参与大规模挖矿业务、萨尔瓦多将比特币确立为法币，以及美国考虑其作为战略储备资产的潜力。 此外，比特币还充当去中心化支付网络。在过去一年中，比特币网络平均每天处理 87 亿美元的调整后经济交易，交易总额达 3.2 万亿美元。 报告还指出，新需求现在呈爆发式增长，而不是像之前的周期那样持续流入。与 2021 年的峰值相比，小型散户的参与度有所下降，而大型实体则增加了持仓。 尽管市场状况良好，但谷歌对比特币的搜索兴趣尚未达到 2021 年的水平。投资者群体正在发生变化，散户参与者表现出更多的战略性增持行为。 美国现货比特币 ETF 的推出使机构投资者获得了投资机会，推出一年内净流入资金超过 400 亿美元，综合资产管理规模超过 1200 亿美元。 比特币投资者群体在市场回调期间表现出了韧性。当前周期的实际损失低于前几个周期，唯一重大事件是 2024 年 8 月 5 日的日元套利平仓。该报告还强调，与过去的周期不同，比特币的下跌更加可控，实际波动性较低。 总体而言，本周期的价格走势特点是一系列上涨，随后是一段盘整期，由于更多成熟的参与者交易比特币和其他加密货币，市场结构更加稳定。

Odaily星球日报讯 根据 Glassnode 最近的一份报告，自 2022 年 11 月以来，比特币已吸收了约 4500 亿美元的额外资本，使总已实现市值（Realized Cap）达到 8500 亿美元，成为各国和机构关注的全球宏观资产。其表示，比特币已实现市值的增长是由其在全球舞台上日益重要的作用推动的，这吸引了机构和主权实体。该报告强调民族国家参与比特币是一个关键因素，包括不丹参与大规模挖矿业务、萨尔瓦多将比特币确立为法币，以及美国考虑其作为战略储备资产的潜力。此外，比特币还充当去中心化支付网络。在过去一年中，比特币网络平均每天处理 87 亿美元的调整后经济交易，交易总额达 3.2 万亿美元。报告还指出，新需求现在呈爆发式增长，而不是像之前的周期那样持续流入。与 2021 年的峰值相比，小型散户的参与度有所下降，而大型实体则增加了持仓。尽管市场状况良好，但谷歌对比特币的搜索兴趣尚未达到 2021 年的水平。投资者群体正在发生变化，散户参与者表现出更多的战略性增持行为。美国现货比特币 ETF 的推出使机构投资者获得了投资机会，推出一年内净流入资金超过 400 亿美元，综合资产管理规模超过 1200 亿美元。比特币投资者群体在市场回调期间表现出了韧性。当前周期的实际损失低于前几个周期，唯一重大事件是 2024 年 8 月 5 日的日元套利平仓。该报告还强调，与过去的周期不同，比特币的下跌更加可控，实际波动性较低。总体而言，本周期的价格走势特点是一系列上涨，随后是一段盘整期，由于更多成熟的参与者交易比特币和其他加密货币，市场结构更加稳定。

报告：比特币已实现市值达8500亿美元，成为多个国家和机构关注的全球宏观资产

Odaily reports that according to a recent Glassnode report, Bitcoin has absorbed about $450 billion in additional capital since November 2022, bringing its total realized market cap to $850 billion, making it a global macro asset of interest to nations and institutions. The report states that the growth in Bitcoin's realized market cap is driven by its increasingly important role on the global stage, attracting institutional and sovereign entities. It highlights key factors such as nation-state participation, including Bhutan's involvement in large-scale mining operations, El Salvador's adoption of Bitcoin as legal tender, and the U.S. considering its potential as a strategic reserve asset. Additionally, Bitcoin is serving as a decentralized payment network, with the Bitcoin network processing an average of $8.7 billion in adjusted on-chain economic transactions daily, totaling $32 trillion over the past year. The report notes that new demand is now exhibiting explosive growth, rather than the sustained inflows seen in previous cycles, with a decrease in small retail participation but an increase in large entity holdings compared to the 2021 peak. While market conditions are favorable, Google search interest in Bitcoin has not yet reached 2021 levels, and the investor base is evolving, with retail participants exhibiting more strategic accumulation behavior. The launch of U.S. spot Bitcoin ETFs has provided institutional investors with investment opportunities, with net inflows exceeding $40 billion in the first year and total assets under management surpassing $120 billion. Bitcoin investors have shown resilience during market pullbacks, with actual losses in the current cycle lower than previous cycles, with the only significant event being the unwinding of the Japanese yen carry trade on August 5, 2024. The report also highlights that, unlike past cycles, Bitcoin's downturns have been more controlled, with lower realized volatility. Overall, the price dynamics of this cycle are characterized by a series of rallies followed by consolidation periods, with a more stable market structure due to the increased participation of more mature actors trading Bitcoin and other cryptocurrencies.

Odaily reported that according to a recent Glassnode report, Bitcoin has absorbed about $450 billion in additional capital since November 2022, bringing its total realized market cap to $850 billion, making it a global macro asset of interest to nations and institutions. The report states that the growth in Bitcoin's realized market cap is driven by its increasingly important role on the global stage, attracting institutional and sovereign entities. It highlights key factors such as nation-state participation, including Bhutan's involvement in large-scale mining operations, El Salvador's adoption of Bitcoin as legal tender, and the U.S. considering its potential as a strategic reserve asset. Additionally, Bitcoin is serving as a decentralized payment network, with the Bitcoin network processing an average of $8.7 billion in adjusted on-chain economic transactions daily, totaling $32 trillion over the past year. The report notes that new demand is now exhibiting explosive growth, rather than the sustained inflows seen in previous cycles. Compared to the 2021 peak, smaller retail participation has declined, while larger entities have increased their holdings. Although market conditions are favorable, Google search interest in Bitcoin has not yet reached 2021 levels. The investor base is evolving, with retail participants exhibiting more strategic accumulation behavior. The launch of U.S. spot Bitcoin ETFs has provided institutional investors with investment opportunities, with net inflows exceeding $40 billion in the first year and total assets under management exceeding $120 billion. Bitcoin investors have shown resilience during market pullbacks, with actual losses in the current cycle lower than in previous cycles, with the only significant event being the unwinding of the Yen carry trade on August 5, 2024. The report also highlights that, unlike past cycles, Bitcoin's downturns have been more controlled, with lower realized volatility. Overall, the price dynamics of this cycle are characterized by a series of rallies followed by consolidation periods, as more mature participants trade Bitcoin and other cryptocurrencies, resulting in a more stable market structure.

Report: Bitcoin has achieved a market value of $850 billion, becoming a global macro asset that many countries and institutions are paying attention to

Odaily Report: Bitfinex Alpha's latest report shows that the Bitcoin market is undergoing structural changes. Although the BTC price fell below $10,000 due to the impact of Trump's tariff policy, the continuous increase in institutional investment shows the resilience of the market. MicroStrategy has increased its holdings by 11 billion dollars, adding 10,107 bitcoins to its total holdings of 158,400 bitcoins, and has filed a financing application with the SEC to prepare for future increases; Japanese listed company Metaplanet has completed a $745 million financing to expand its Bitcoin reserves to hedge against the risk of Yen depreciation. In January 2025, BTC recorded a 10% increase, and the price has been consolidating within a 15% range for nearly 65 days. At the macro level, the correlation between Bitcoin and the traditional market has increased, with the 30-day correlation with the S&P 500 reaching 0.8, a 5-month high. The Federal Reserve has kept interest rates unchanged at 4.25%-4.50%, with inflation still above the 2% target and core PCE remaining at 2.8% year-on-year. Meanwhile, <Tether> is integrating its $140 billion <USDT> into the Bitcoin Lightning Network, using <Taproot Assets> technology to improve network payment efficiency, driving the transformation of Bitcoin from a store of value to a payment network.

Bitfinex: Bitcoin is impacted by tariff policies, but institutional investors continue to increase their holdings, showing market resilience

Odaily reports that according to SoSoValue data, the total net outflow of Bitcoin spot ETFs was $235 million on February 3 (Eastern Time). On the same day, the Grayscale ETF GBTC had a net inflow of $8.0191 million, and the total historical net outflow of GBTC is $21.883 billion. The Grayscale Bitcoin Mini-trust ETF BTC had a net outflow of $0.00 on the same day, and the total historical net inflow of the Grayscale Bitcoin Mini-trust BTC is $1.232 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $119.14 billion, and the ETF net asset ratio (market value to Bitcoin total market value) has reached 5.95%, with a cumulative historical net inflow of $40.263 billion.

The historical cumulative net inflow of Bitcoin spot ETF has reached 40.263 billion US dollars, and the net outflow was the first after the net inflow in the past 4 days

Odaily reports that on-chain data shows that El Salvador purchased 11 more BTC about 1 hour ago, bringing its total holdings to 6,067.18 BTC, currently worth around $615 million.