Bitcoin monthly ‘new money’ inflows near $5B as rally stalls

The distinction Glassnode draws between revaluation of existing coins and genuine new capital matters more than the headline figure: a realized-cap increase dominated by holders re-marking their positions reflects conviction and unrealized gains, not fresh demand absorbing supply. That leaves the market's footing dependent on whether existing holders keep holding through a stalling advance, rather than on an expanding buyer base. What's worth watching is whether the composition shifts toward new-money inflows; continued reliance on revaluation would suggest the rally's fuel is internal rather than external.