Realized Price
Realized Price is the average cost basis of all coins โ 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 รท Supply
- Originator:
- Coinmetrics / Glassnode
- Data source:
- BRK (Bitcoin Research Kit, brk_realized_price/sth/lth, ab 2009). bgeometrics-Inkrement 2026-07 abgelรถst (Stabilitรคt).
Strategies to backtest
Thematically related strategies from our library โ try them in the backtest engine or read up on the methodology.
The benchmark for everything else โ buy on day one, hold forever. The reference every strategy is measured against.
Open strategy โBuy a fixed amount on a fixed schedule โ week after week, regardless of price. Smooths volatility, removes timing decisions.
Open strategy โMore Bitcoin indicators
Is crypto-internal liquidity expanding or contracting? Stablecoin supply, spot-ETF flows and realized-cap change as 30-day impulses on one percentile scale โ with breadth, dispersion and a declared composition. A state, not a signal.
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 โ from deep accumulation (green) to euphoria (red). Makes valuation phases visible over time.