Bitcoin's growth rate is slowing as it reaches new valuation milestones, requiring increasing amounts of capital, according to Glassnode.
Bitcoin surged from around $101,000 on May 15 to over $109,000 by May 21, establishing a new all-time high of $109,500.
Glassnode data indicates a slowdown in capital inflow relative to earlier growth phases as Bitcoin matures, with each milestone demanding more capital.
Despite the overall long-term trend, Bitcoin continues to set new records, achieving its highest daily and weekly closing prices in May amidst a bullish market.