Bitcoin Realized Price

Realized price is the average price at which bitcoins were purchased/spent/transferred. It is a metric that takes into account the price at which each individual bitcoin last moved on the blockchain.

The realized price of Bitcoin is typically calculated by dividing the realized market capitalization by the realized supply. Here is the formula:

$\text{Realized Price}=\frac{\text{Realized Market Capitalization}}{\text{Realized Supply}}$

Delta Realized price of bitcoin is the realized price minus the average value of the realized price up to the current day

$\text{Delta Realized Price}=Realized\; Price-\text{AVG(Realized Price)}$

The actual mid-market price, or active investor price, is a representative cost basis model for all coins purchased on secondary markets.

It is a relatively new concept introduced in Glassnode's Cointime Economics report. This metric focuses exclusively on coins that have been actively traded, excluding the income that miners have earned.

By excluding Thermocap, the true mid-market price focuses solely on coins traded or transferred between investors, more accurately reflecting investor-driven market dynamics.