As Bitcoin drops below $68,000, history suggests this correction is rather tame for bull markets, as plunges to this deep on-chain level have been the norm.
Bitcoin Short-Term Holder Realized Price Is Currently Around $53,200
As pointed out by CryptoQuant Netherlands community manager Maartunn in a post on X, BTC still has a decent margin over the realized price of the short-term holders.
The “realized price” is an on-chain metric that keeps track of the average price at which the Bitcoin investors acquired their coins. The indicator calculates this value by going through the transaction history of each coin and assuming that the last transfer of it was the last time it was purchased (that is, the price at the time is its current cost basis).
When the spot value of the cryptocurrency dips below the realized price, it means that the average investor is now in a state of loss. On the other hand, a break above implies the market as a whole has entered into net profits.
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