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.
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.
Bitcoin's price adjusted for monetary inflation (M2 money supply growth). Shows Bitcoin's real purchasing power value over time by removing the effects of currency debasement.
The average acquisition cost of Long-Term Holders (coins held for more than 155 days). Represents the conviction price of patient, long-term investors.
Measures the premium that the market places on Bitcoin above its utility value (transaction volume). A high monetary premium indicates strong store-of-value demand.
A composite indicator combining multiple pricing models to identify when Bitcoin has entered an unsustainably euphoric phase. Triggers when multiple independent models simultaneously signal overvaluation.