Bitcoin Cycle Reset: On-Chain Data Suggests Accumulation Phase Over Market Top

TLDR: Bitcoin’s Realized Cap reached new all-time highs, indicating fresh capital inflows beyond speculation. Long-term holders attempted distribution in late 2025 but market absorbed selling pressure effectively. Bitcoin has consolidated between $80,000 and $120,000 for nearly eighteen months amid global rallies. On-chain metrics suggest mid-cycle reset rather than peak as holders return to accumulation patterns. [...]

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