Short-term holder (STH) Bitcoin whales have increased their share of the Realized Cap to a record 44%, according to on-chain data. This metric, which measures the total capital invested by holders with over 1,000 BTC, indicates a significant influx of fresh capital into the Bitcoin network. The previous high was 31% during the 2021 bull run. The increase is driven by transfers within the STH group and sales from long-term holders (LTHs).