#GUN now everyone to the moon!!! ah but yesterday everyone said it was a scam and that it would go to 0.01

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MatchSea

· 2025-04-06 05:13

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the Bitcoin bull run cycle has ended for the following reasons:
There is a concept in on-chain data called realized market capitalization. It works as follows: when BTC enters a Blockchain Wallet, it is considered a "buy," and when it leaves, it is considered a "sell." Using this idea, one can estimate the average cost basis of each wallet, multiplying it by the number of BTC held to arrive at the total realized market capitalization, which is typically seen as the total capital that has entered the Bitcoin market through actual on-chain activity, while the market capitalization is based on the latest trading prices on exchanges.
When selling pressure is low, even small purchases can push prices up, thereby increasing market capitalization. Strategy capitalized on this by issuing convertible bonds and using the proceeds to purchase Bitcoin.

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