Quick Take
Bitcoin’s Realized Price, which represents the aggregate on-chain acquisition price for the entire coin supply, has notably increased to $23,230, a 1.5% increase in the past seven days.
More specifically, the Short-Term Holder Realized Price (STH RP), which reflects the average on-chain acquisition price for coins moved within the last 155 days, has risen to $40,800—a 4% appreciation over the past seven days. This rate of increase is considerable and has been witnessed only a few times over the past year.
The surge in STH RP aligns with another significant market shift—the rise in Bitcoin’s price over the $52,000 mark, pushing its market cap beyond $1 trillion. As a result, the supply from short-term Bitcoin holders has also seen a considerable increase, surging from 2.2 million coins to 2.6 million, a 400k addition in a relatively short period.
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