Bitcoin is now above the realized price on all major exchanges

exchange68September 13, 2024

0 1 1 minute read

Definition

We can monitor the average price at which coins are withdrawn from all exchanges as a tool to estimate a market-wide cost basis. In this chart, we consider the average withdrawal prices for cohorts withdrawing from the largest exchanges by balance.

Quick Take

Bitcoin is now above the realized price on all major exchanges, as it breaks through $24,000.
During the 2019 and 2020 bear markets, the Bitcoin price went through all-exchanges realized price.
However, during the 2022 bear market, the Bitcoin price briefly went below the realized price of all exchanges.

The exchange average withdrawal price by exchange;

Bitfinex: $10,595
All exchanges: $16,816
Binance: $21,362
Coinbase: $21,046

Exchange withdrawal price: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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