The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

In recent weeks, much of our analysis has been focused on the consolidation period currently occurring in the bitcoin market, with a particular focus on realized price as an indicator of lackluster capital flow. As shown by the chart below, the realized market capitalization of bitcoin, which can otherwise be thought of as an aggregate price paid for every coin on the network, has increased by $87 billion since the beginning of August. 

By Antoni