1-Realized Cap values different part of the supplies at different prices (instead of using the current daily close). Specifically, it is computed by valuing each UTXO (Unspent transaction output) by the price when it was last moved. 
2-in plain english its like financial cap or all real money destinated to buy each coin. In retrospective MARKET CAP is more known (all coins in existence times de value of btc) but this isnt the real Money that come in to the space of btc, realizad cap is a better measure for it
3- The diference between r.cap and mkt cap is the profit of all the Holders given in the way they were bought in time and price. Looking at the graph we see less amount of money that flows in the mkt makes the price move faster,
4-this might be hands holding btc are getting stronger and demand higher price increases to sell their btc; so the price is more similar to 1st halving cycle where the price crossed the orange line on day 134 and crossed it again on day 368,
5-instead in the second hlv it only crossed it once and it took 527 days to arrive, In this 3 hvg we are up to date 288 and already try to cross it 2 times, this might indicate less Money flowing into the market to buy btc (makes the orange line move upwards),
6-makes the price reacts faster trying to cross the orange line, therefore you can see faster reactions in the price as money comes in, compared to the 2nd halving where the crossing just occurred at the end of the cycle.
@threadreaderapp unroll please
• • •
Missing some Tweet in this thread? You can try to
force a refresh
