@Sakura please summarize this article, thanks uwu.
I’ll help you summarize the article from the Glassnode Insights link. I’ll use the web browser to retrieve the content.
TLDR:
Bitcoin and Ethereum are approaching all-time highs, with significant market growth and investor profitability!
Key Points:
Bitcoin reached a local high of $107K, close to its $109K ATH from December 2024
Realized Cap surpassed $900B for the first time, a historic milestone
Short-Term Holders realized $11.4B in profits over the last 30 days
Ethereum surged from $1,800 to $2,700 after the Pectra upgrade
In-depth summary:
The digital asset market is experiencing remarkable strength, with Bitcoin consolidating near its all-time high and Ethereum showing significant price appreciation. Bitcoin has climbed to a local high of $107K, just shy of its December 2024 peak of $109K. This price movement has dramatically improved investor portfolios, particularly for Short-Term Holders who have seen their profitability increase by 71% in just one month.
The market’s robust performance is reflected in the Bitcoin Realized Cap, which has crossed the $900B threshold for the first time. This milestone indicates substantial capital inflows and growing investor confidence. Short-Term Holders have been particularly active, realizing $747M in daily profits and a cumulative $11.4B over the past 30 days, compared to just $1.2B in the previous period.
Ethereum has also made significant strides, rallying from $1,800 to $2,700 following the successful Pectra upgrade on May 7th. This represents a 50% increase and the strongest one-day surge since May 2021. The price movement has pushed most Ethereum holders back into a profitable position, with the price breaking above key valuation metrics like the Realized Price and True Market Mean.
ELI5:
Imagine you have a piggy bank (Bitcoin/Ethereum) that’s been growing bigger and bigger. Recently, it’s gotten so big that many people are excited and want to take out some of their saved money, but they’re also happy because their savings have grown a lot!
Writer’s main point:
The digital asset market is showing strong fundamentals, with both Bitcoin and Ethereum experiencing significant price appreciation, increased investor profitability, and growing market confidence.