Bitcoin Stabilizes at 2023 Realized Price, Reflecting Historical Trends
- The average realized price for Bitcoin in 2023 is approximately $63,700.
- Bitcoin tested this support level around $60,000 during a local bottom in February.
- In early 2023, Bitcoin used the realized price as support during small corrections in March, July, and September.
- The average realized price for newer cohorts like 2026 has decreased from $90,000 to about $77,000.
- Currently, Bitcoin trades just above $70,000, with the aggregate realized price around $54,360.
- Historically, Bitcoin has traded below the aggregate realized price during major bear markets.
The current stability of Bitcoin at its 2023 realized price suggests a significant support level that mirrors past cycles. If this support fails, the next key level to watch is around $54,000.
With Bitcoin’s lowest recorded price in this cycle being about $60,000 and trading now above $70,000 indicates critical market behavior as it tests historical support levels.(Source)
