The level of new capital flowing onto the Bitcoin (BTC<\/a>) network suggests the top crypto asset is in a \u201cfull-blown\u201d bull market, according to on-chain analyst Willy Woo.<\/p>\n Woo tells<\/a> his 1 million followers on the social media platform X that daily inflows of capital being stored by the Bitcoin network recently hit $2 billion per day, equivalent to the level of the last full-blown bull market.<\/p>\n \u201cThis time it should climb much higher. Spot ETFs (exchange-traded funds) are opening up the inflow pipes markedly.<\/em><\/p>\n The inflows are measured on-chain so this includes all investors. It\u2019s about 90% accurate. Also indicative that the ETFs are around 30% of total flows right now.<\/em><\/p>\n Specifically, you take the daily change in entity-adjusted realized capitalization. Entity-adjusted Real Cap tallies the price paid for every BTC when they moved to the current HODLers, this is a measure of the USD stored in the network.\u201d<\/em><\/p>\n Earlier this week, Woo said<\/a> Bitcoin\u2019s upper bound price model is $337,000.<\/p>\n \u201cSo this bull market is still early, equivalent to $20,000 of last cycle. Last cycle didn\u2019t hit the upper bound due to the flood of paper BTC, this is less dominant this cycle.\u201d<\/em><\/p>\n Paper BTC means derivatives that represent Bitcoin but don\u2019t involve actual ownership of the asset.<\/p>\n Bitcoin is trading at $72,804 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The level of new capital flowing onto the Bitcoin (BTC) network suggests the top crypto asset is in a \u201cfull-blown\u201d bull market, according to on-chain analyst Willy Woo. Woo tells his 1 million followers on the social media platform X that daily inflows of capital being stored by the Bitcoin network recently hit $2 billion […]<\/p>\n","protected":false},"author":2,"featured_media":265178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-265175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/265175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=265175"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/265175\/revisions"}],"predecessor-version":[{"id":265181,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/265175\/revisions\/265181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/265178"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=265175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=265175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=265175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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