Insights

Behavioural shift as Bitcoin holders in aggregate no longer underwater

Definition

  • Realized Price reflectes the aggregate price when each coin was last spent on-chain. Using Short- and Long-Term Holder cohorts, we can calculate the realized price to reflect the aggregate cost basis for each group.

Quick Take

  • Bitcoin has reclaimed multiple costs basis, short and long-term holder cost basis, and realized price.
  • Bitcoin has reclaimed its short-term holder costs basis ($18,900).
  • Bitcoin has also reclaimed its long-term holder cost basis ($22,300).
  • In addition, to reclaiming the realized price ($19,777).
  • This specific event has occurred three times in Bitcoin history.
Bitcoin, cost basis: (Source: Glassnode)
Bitcoin, cost basis: (Source: Glassnode)

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