Bitcoin’s realized price shows a bottom could be forming
Determining a market bottom requires looking at various different sets of data. However, when it comes to Bitcoin, there are two frequently used on-chain metrics that have historically acted as solid indicators of its price bottom — realized price and the MVRV ratio.
Realized price calculates the average price of the Bitcoin supply valued at the day each coin last transacted on-chain. Realized price is an essential metric and is considered to be the cost-basis of the market. The MVRV ratio is the ratio between the market capitalization of Bitcoin’s supply and its realized value. The ratio is a solid indicator of whether Bitcoin’s current price stands above or below “fair value” and is used to assess market profitability.
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