Bitcoin Realized Price Surpasses 200-Week Moving Average for First Time
The Bitcoin Realized Price has exceeded the 200-week moving average (MA) for the first time in the current cycle, indicating potential bullish market behavior.
Key Points
- The crossover of the Bitcoin Realized Price and 200-week MA signals a shift, with the Realized Price reflecting the average cost basis of BTC holders.
- A higher Realized Price than the spot price indicates net unrealized profit among investors.
- The last similar crossover occurred in 2020, coinciding with the start of a bull run.
- In contrast, the 2017 cycle did not see a crossover before the bull run.
- Capriole Investments noted that institutional buying comprised 75% of Coinbase volume recently, historically linked to price increases.
- Bitcoin reached an all-time high over $124,000 but is currently trading at approximately $118,300.
