Bitcoin bulls drive short-term realized price to $64,097

Quick Take

The Realized Price of Bitcoin represents the average on-chain acquisition cost for the entire coin supply. This metric provides insights into the average price at which coins were last moved on-chain, indicating the collective cost basis of all Bitcoin holders.

Short-Term Holder (STH) Realized Price, reflecting coins moved within the last 155 days, shows the average acquisition cost for more recently acquired coins. These coins are more likely to be spent in the near term. Glassnode data shows that the STH Realized Price is around $64,097; this metric has provided strong support in the ongoing bull market, consistent since early 2023. The lowest price Bitcoin reached during June was roughly $64,400, showing a minor differential of approximately $400 from the STH Realized Price.

The recent breakthrough of the overall Realized Price above $30,500 and the continued uptrend of the STH Realized Price indicates a strong bullish momentum for Bitcoin. As of now, Bitcoin appears to be maintaining its upward trajectory.

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