A recent wave of media reports suggesting a sharp decline in Bitcoin’s market liquidity has been called into question by crypto analyst Axel Adler. He argues that the narrative is based on a misinterpretation of on-chain data. In his tweet on X, Adler clarified the situation, pointing to Bitcoin (BTC) Realized Capitalization as a key metric that paints a more clear picture of the cryptocurrency’s financial health. Adler shared a chart from CryptoQuant illustrating Bitcoin’s Realized Capitalization and its net position change over the past few years. The chart shows that Bitcoin’s Realized Capitalization has been ... (full story)