Holder Realized Prices

Bitcoin Holder Realized Prices plots the realized price, or average on-chain cost basis, for every Bitcoin holder age cohort, ranging from brand new holders (0-1 day) to diamond hands (10+ years). Each line is calculated from where the coins in that cohort last moved on-chain, giving the average price those holders effectively paid. Rather than a single network-wide realized price, the chart decomposes the supply by holding period so you can see the cost basis of newcomers separately from long-term holders.

The lines are drawn with a hot-to-cold color gradient, where the hottest colors mark the youngest, most recently moved cohorts and the coldest colors mark the oldest, most dormant coins. Reading where each cohort's realized price sits relative to spot price reveals profit and loss zones: when a cohort's line is below price, that group is in aggregate profit, and when it is above price, that group is underwater. The spread and ordering of the lines exposes holder behavior patterns across the maturity spectrum.

Check the selected asset, units, and cohort before comparing readings. Compare the metric over consistent dates and use related measures to understand what contributes to a change.