Net capital inflows into $BTC across halving cycles are telling a story.
Realized Cap delta shows how much fresh money is actually entering vs exiting the network. This isn't price action noise — it's on-chain proof of capital rotation.
Compare the 4-year cycles:
• Early cycles = explosive inflows during bull runs
• Recent cycles = more distributed, institutional-style accumulation
If you're not watching Realized Cap changes, you're flying blind. Price can lie. On-chain capital flows don't.
Realized Cap delta shows how much fresh money is actually entering vs exiting the network. This isn't price action noise — it's on-chain proof of capital rotation.
Compare the 4-year cycles:
• Early cycles = explosive inflows during bull runs
• Recent cycles = more distributed, institutional-style accumulation
If you're not watching Realized Cap changes, you're flying blind. Price can lie. On-chain capital flows don't.
