Bitcoin realized price reaches a new peak for the year

Quick Take

Realized price is a metric that offers an average acquisition cost of the total coin supply on-chain. Historically, when Bitcoin’s value dips below the realized price, signified by the purple lines on the chart below, it has consistently indicated a market bottom. This trend has manifested at least once in every bear market cycle.

Presently, Bitcoin’s realized price stands at $20,300. This figure is the highest it has been since the FTX collapse and continues to rise. This upward trend is promising, primarily as short-term holders persistently augment their cost basis.

Consequently, Bitcoin’s value trajectory has been marked by successively higher peaks with each cycle. In the unlikely scenario where the price falls below the realized price, it’s improbable that we would witness a dramatic drop to a value as low as $15,500.

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