May 20, 2025
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Bitcoin’s Average Realized Price for 2025 Reaches $93,266
Recent analysis highlights the importance of tracking bitcoin's realized price, which reflects the average price at which bitcoin is withdrawn from exchanges. This metric aids in assessing investor profitability and market sentiment.
- The average realized price for 2025 is $93,266, with bitcoin currently trading at $105,000, showing a 12% gain for these investors.
- Bitcoin's decline from its all-time high of $109,000 included a brief dip below the 2025 realized price, indicating potential capitulation.
- This capitulation period lasted until April 22 when prices reclaimed the cohort’s cost basis.
Capitulation Patterns
- In 2024, following an ETF launch, bitcoin fell below the average cost basis before recovering.
- In 2023, prices remained close to the average cost basis, briefly dipping during the Silicon Valley Bank crisis.
The data suggests that a capitulation phase has likely occurred, positioning the market for recovery and healthier conditions.
Historically, significant price movements diverged from realized prices, indicating speculation phases and subsequent corrections. The long-term cost basis serves as support during bear markets and continues to rise, reflecting increasing capital commitment to bitcoin.