BTC capital inflow metric turns negative for first time in 3 years

The Bitcoin Long-Term Holder Realized Cap Impulse has turned negative for the first time in three years, crypto analytics firm Alphractal reported. This indicator measures changes in the realized capitalization by reflecting the price at which each BTC last moved, thereby showing actual capital inflows over time. Alphractal stated that a negative turn in the metric signifies a structural change in the flow of capital into the Bitcoin network. A positive reading indicates new capital inflows, while a negative one suggests a decrease in capital inflow and slowing demand. The firm analyzed that the current entry into negative territory marks the beginning of a phase of structurally weakening capital inflow for the current cycle.