Bitcoin slipped back into the $112,000 range, extending its weekly losses, even as its Realized Cap surpassed $1 trillion for the first time.
On August 25, BTC retreated to $112,378, a 2.2% drop over 24 hours, bringing weekly losses to 2.6%. This decline places the cryptocurrency at the lower end of its seven-day range of $112,023 to $117,016. Over the past month, Bitcoin has lost around 4%, cooling off after a strong mid-summer rally.
In contrast, Ethereum continues to show strength. ETH was trading at $4,710 at the time of reporting, slightly down on the day but up 9% over the past week and 26% over the past month. Its momentum peaked with a new all-time high of $4,946 on August 24.
Bitcoin whales are moving into Ethereum
Some of the market’s longest-held Bitcoin positions are now shifting into Ethereum. On August 24, on-chain analytics platform Lookonchain reported that a dormant BTC wallet, inactive for years, transferred 6,000 BTC—valued at $689.5 million—into ETH.
The wallet has now amassed 278,490 ETH, worth $1.28 billion at an average price of $4,585 per token. It still retains 135,265 ETH ($581 million), indicating strong confidence in Ethereum’s potential.
Ethereum has also been seeing increased inflows from exchange-traded funds and ETH-focused corporate treasuries. These whale movements reinforce ETH’s relative strength in recent weeks, fueling speculation that capital rotation from Bitcoin could help sustain Ethereum’s momentum even as BTC undergoes consolidation.
Bitcoin’s Realized Cap Surpasses $1 Trillion
Despite a brief pullback, Bitcoin has reached a significant on-chain milestone. On August 24, CryptoQuant contributor Burakkesmeci noted that Bitcoin’s Realized Cap had exceeded $1 trillion for the first time.
Unlike traditional market capitalization, which multiplies total supply by the current price, Realized Cap values coins based on the price at which they last moved. This metric reflects the “actual” capital invested in Bitcoin rather than just its nominal market value.
Crossing the $1 trillion mark signals record liquidity flowing into the network, indicating that the rally is backed by real investment rather than mere speculation.
“Just wait until Realized Cap hits $2 trillion — then you’ll really see our little guy shine,” Burakkesmeci wrote in his CryptoQuant note.
Bitcoin technical analysis
Bitcoin is displaying mixed signals. The MACD remains in bearish territory, suggesting that downward pressure persists, while the relative strength index (RSI) sits around 48, signaling neutral momentum. Momentum indicators such as the Stochastic RSI point to oversold conditions, implying that selling pressure may soon ease.
Short-term moving averages paint a cautious picture. Bitcoin is trading below its 10-day and 20-day exponential moving averages, indicating lingering weakness. However, the longer-term trend remains intact, with the 100-day and 200-day moving averages still trending upward, providing structural support beneath current levels.
Traders are eyeing a potential rebound toward the $115,000–$117,000 resistance zone if Bitcoin holds above $110,000. Conversely, a drop below $110,000 could open the door to a deeper decline toward $105,000.
