According to glassnode, since April 21, Bitcoin's hot capital has surged from $20.7 billion to $39.1 billion, marking a significant increase of $18.7 billion or 92%. This rapid growth in short-term realized cap highlights a notable spike in active capital turnover, suggesting intensified trading activity and liquidity in the BTC market. Such a substantial increase in hot capital often signals greater volatility and potential for strong price movements, making it a key metric for traders monitoring short-term trends (source: glassnode, April 29, 2025).