According to MilkRoadDaily, the Bitcoin realized price continues to rise, diverging from past cycles where a flat or declining realized price signaled the start of a downtrend. This upward movement in realized price indicates that investors, particularly institutions participating through spot Bitcoin ETFs, are acquiring BTC at progressively higher price points (source: MilkRoadDaily, May 15, 2025). For traders, this sustained trend suggests ongoing bullish momentum supported by institutional inflows, signaling potential for further upward price action and highlighting the importance of monitoring realized price as a leading indicator for market sentiment.