BTC Realized Price: $53,025.69
The average price at which all the bitcoin in existence last changed hands — the best available stand-in for what the market as a whole paid, drawn against the spot price so the gap between the two is visible. Price below this line has marked the cheapest stretches of past cycles. Computed by Safu from its own Bitcoin node, daily from August 2010.
Every coin carries the price it last moved at. Weight all those prices by how many coins were involved, add them up and divide by the number of coins.
The result is one dollar figure: what the average bitcoin owner effectively paid.
For example, if this reads $52,000 while bitcoin trades at $110,000, the average owner is sitting on roughly a 110% gain. When the market price drops below this line, the average owner is underwater — that has happened **only** in the deepest weeks of past downturns, and each time it lasted weeks or months, **never** years.
The line itself climbs slowly as coins change hands at higher prices.
In words: take the price each coin last moved at, add them all together and divide by the number of coins in existence. Computed in-house from our own Bitcoin node's realized cap — the value of every coin at the price it last moved at, which can only be obtained by reading the whole chain.
The series starts on 18 August 2010, the first day bitcoin had a market price. Coins mined before then had never moved at any price, so the arithmetic for those 592 earlier days produces $0 — a true calculation that means nothing, and one that used to put a "Low $0.00" on this page. Those days are left out rather than drawn.
Coins lost forever still carry the price they last moved at, often a few dollars, which drags this line down.
Computed by Safu from its own Bitcoin node's realized cap — the value of every coin at the price it last moved at, which can only be obtained by reading the whole chain — divided by coin supply. The spot price beside it comes from our own daily closes. Daily points from 18 August 2010.
Computed in-house from Safu's Bitcoin node · 1 point/day since Aug 2010 · recomputed daily