Realized Price
The average price at which all coins in circulation last changed hands. The 'cost basis' of the Bitcoin network.
What the metric shows
Realized Price is the average cost of each Bitcoin to the market. Unlike the market price, it changes slowly: a coin affects it only when it actually moves on the blockchain.
Its practical value lies in acting as a support level. In every bear cycle, the price has dropped to the Realized Price and rarely stayed below it for longer than a few months: below this level, the average market participant is at a loss, and selling becomes unprofitable.
How it is calculated
How to read the signal
| Zone | Value | Interpretation |
|---|---|---|
| Price below Realized | The network is in aggregate loss — historical bottom zone | |
| Price 1–2× Realized | Normal market conditions | |
| Price > 3× Realized | Strong deviation from the cost basis — overheating |
Frequently Asked Questions
Is this the same as the average purchase price?
Almost. More accurately — the average price of the coin's last movement: a transfer between one's own wallets also updates it.
Why is the line so smooth?
Because only a small percentage of the circulating supply moves daily — the rest of the coins retain their old price.
How is this related to MVRV?
MVRV is the market price divided by the Realized Price.