The current Bitcoin (BTC) market cycle has incorporated over $730 billion in new capital, more than all previous cycles combined.
According to data analyzed by Glassnode, when comparing the cumulative flow from each cycle’s minimum to its respective historical maximum, Current growth is abnormal.
Capital inflows have declined significantly in previous cycles, from 2011 to 2015 at USD 4.4 billion. 86 billion from 2015 to 2018. 388 billion USD between 2018 and 2022.
In contrast, the current cycle (2022-2025) totals $732 billion. Primarily driven by institutional implementation and the availability of regulated instruments such as Bitcoin ETFs.
This can be seen in the following graph.
Similarly, funds flow into BTC Raised realized capital to an all-time high of $1.1 trillion (Trillionin English). These were driven by inflows of more than US$100 billion per month during the most intense period.
This behavior marks a break from previous cycles. It is characterized by greater liquidity dispersion to other digital assets.
CriptoNoticias reported institutional investor commitment to Bitcoin. They have been dedicated to large-scale investments in digital currencies. From companies that have opened their own vaults to financial institutions such as Vanguard and Bank of America that have recently enabled exposure to Bitcoin. Institutional investors no longer view BTC as a marginal assetviewed as a top-level global asset.
Changes within the Bitcoin network
The report also reveals changes in activity within the network. Glassnode says: Activity is moving off-chainThis is because much of the investor flow in the US is through Bitcoin ETFs.
The number of active entities on the network decreased from 240,000 to 170,000 per day. Reflects transition to regulated products and traditional platforms.
Nevertheless, Bitcoin continues to dominate on-chain payments. In the past 90 days, the network created by Satoshi Nakamoto has processed approximately USD 6.9 trillion in total (more than Visa and Mastercard), or USD 870 billion after economic adjustment, as shown below.
Taken together, the data points to a deeper and more ordered market that is increasingly defined by institutional participation. where Bitcoin remains the mainstay of accumulation and liquidity.
