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On-Chain Introduction Collection

Bitcoin: Realized Price

BTC market price compared with the aggregate on-chain cost basis

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Chart informationBitcoin: Realized Price

About This Indicator

Bitcoin Realized Price values each coin at the price when it last moved on-chain, then divides that value by circulating supply. This gives an estimate of the market's aggregate cost basis. When BTC price is above realized price, holders are in profit on aggregate; when BTC price is below realized price, the market is carrying aggregate paper losses.

Current Value & Interpretation

Waiting for realized price data to compute the MVRV ratio.

Data Sources

  • Bitcoin price: CoinGecko API via backend price history
  • Realized price: stored DB values plus CoinMetrics community API history derived from PriceUSD / CapMVRVCur
  • MVRV Ratio: BTC price divided by realized price, computed by the backend

Last Updated

Waiting for data

Related Charts

  • Stock-to-Flow ModelCompares existing Bitcoin supply (stock) with new issuance (flow) to model scarcity. The app derives a model price from the ratio using the calibration 0.4 × ratio³.
  • Stock-to-Income RatioExtends the Stock-to-Flow idea by folding miner transaction fees/income into the issuance side, giving another lens on Bitcoin scarcity and model valuation.
  • MVRV Z-ScoreCompares Bitcoin market value with realized value, normalized to a Z-Score, to identify historically overheated and undervalued conditions.
  • Bitcoin Power Law ChartModels Bitcoin price as a power function of time since genesis, with floor and ceiling bands that have historically contained price action across market cycles.