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Realized Price

Realized Cap / Circulating Supply

PropertyValue
CategoryValuation Metrics
UnitUSD
Resolution1d
AssetsBTC
TierBasic
API EndpointGET /v1/holder/valuation
Fieldrealized_price

Overview​

Realized Price is the Realized Cap divided by the Circulating Supply. It represents the average acquisition price (cost basis) per BTC across the entire network. When the market price crosses above or below the Realized Price, it signals a fundamental shift in aggregate profitability.

Formula​

Realized Price=Realized CapCirculating Supply=∑iamounti×price(cohort_datei)∑iamounti\text{Realized Price} = \frac{\text{Realized Cap}}{\text{Circulating Supply}} = \frac{\sum_{i} \text{amount}_i \times \text{price}(\text{cohort\_date}_i)}{\sum_{i} \text{amount}_i}

Interpretation​

  • Price > Realized Price: The average holder is in profit — historically a bullish regime.
  • Price < Realized Price: The average holder is at a loss — historically marks bear market capitulation zones and generational buying opportunities.
  • Price ≈ Realized Price: A critical support/resistance level where aggregate profit/loss flips sign.

Use Cases​

  • Cycle bottom detection: Price dipping below Realized Price has historically marked major accumulation zones (e.g., late 2018, March 2020, late 2022).
  • Support/resistance level: Realized Price acts as a fundamental "fair value" floor in bull markets.
  • Cohort comparison: Compare network-wide Realized Price against LTH and STH Realized Prices to identify which cohort is under- or over-water.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/valuation?start_date=2024-01-01&end_date=2024-12-31&limit=365"