Realized Price
Realized Price is the average cost basis of all coins β the price they last moved on-chain. When spot price drops below realized price, the market sits in aggregate loss and historically near cycle bottoms. STH (short-term, 155d) and LTH (long-term) show the gap between trader and holder cost basis.
- Formula:
- Realized Cap Γ· Supply
- Originator:
- Coinmetrics / Glassnode
- Data source:
- BRK (Bitcoin Research Kit, brk_realized_price/sth/lth, ab 2009). bgeometrics-Inkrement 2026-07 abgelΓΆst (StabilitΓ€t).
Strategies to backtest
Thematically related strategies from our library β try them in the backtest engine or read up on the methodology.
The benchmark for everything else β buy on day one, hold forever. The reference every strategy is measured against.
Open strategy βBuy a fixed amount on a fixed schedule β week after week, regardless of price. Smooths volatility, removes timing decisions.
Open strategy βMore Bitcoin indicators
Difference between market cap and realized cap, normalised by standard deviation. Values above 5 mark the top region (4 of 5 historical bull tops), below 0 every bottom.
BTC price coloured by MVRV Z-Score regime β from deep accumulation (green) to euphoria (red). Makes valuation phases visible over time.
Aggregated unrealised profit of all coins, five phase bands from capitulation to euphoria. Measures on-chain market sentiment.