Bitcoin at $63876.02 sees 6m-2y holders seize 53% realized cap versus 15% two years ago, nearing last cycle's 68% bottom as short-term holders turn long-term amid bearish 4h structure.

According to Ki Young Ju, Bitcoin on-chain capital inflows are weakening and the realized cap has stalled over the past month after roughly 2.5 years of growth, signaling softer momentum for BTC. Source: Ki Young Ju on X, Dec 21, 2025. He adds that sentiment recovery may take a few months, a timeline traders can factor into risk and timeframe planning for BTC exposure. Source: Ki Young Ju on X, Dec 21, 2025.