Realised Price
What Is Realised Price?
The aggregate cost basis of all Bitcoin in circulation, calculated by dividing the Realised Cap by the total supply. Each UTXO is valued at the price it was last moved. This creates an on-chain average purchase price for the entire network.
How to Interpret
When price trades above the Realised Price, the average holder is in profit. Trading below it puts the average holder underwater and historically signals deep value zones and generational buying opportunities.
More Pricing Models Metrics
NUPL
Net Unrealised Profit/Loss — measures the total profit or loss of all Bitcoin holders as a proportion of market cap. Calculated as (Market Cap - Realised Cap) / Market Cap.
LTH Realised Price
The average acquisition cost of Long-Term Holders (coins held for more than 155 days). Represents the conviction price of patient, long-term investors.
Power Law
A mathematical model that plots Bitcoin's price on a logarithmic scale over time, creating a corridor of expected prices. Based on the observation that Bitcoin's price follows a power law relationship with time.
AVIV Ratio
Active Value to Investor Value — a refined version of MVRV that adjusts for active supply and investor behavior. Provides a cleaner signal of market valuation by filtering out dormant and lost coins.