Bitcoin price recovery possible after record realized losses and leverage flush out create a healthier market

The realized cap is the net sum of Bitcoin capital inflows and outflows since BTC’s launch.

The current realized cap is 2.6% higher than the May 2021 peak, suggesting that Bitcoin’s all-time high has retraced and all excess liquidity from bad debt and over-leveraged entities has been drained from the market.In the past, as bad debt was removed from the ecosystem, a launch pad for future bull markets was established.“The 2010-11 realized cap saw a net capital outflow equivalent to 24% of the peak. The 2014-15 realized cap experienced the lowest, yet non-trivial capital outflow of 14%.

The current balanced price range is between $12,000 and $15,500 with the current delta price concentrating between $18,700 to $22,900. Concurrent with previous bear markets, Bitcoin’s price is above the balanced price, finding support at $15,500.

. A large amount of excess liquidity has dissipated, possibly creating a firmer price floor for a sustainable BTC price recovery. The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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