Share this article
Bitcoin's Realized Price on Cusp of Flashing Major Bullish Signal
The crypto's realized price looks set to cross above the average on-chain acquisition price of long-term holders, indicating a prolonged bullish period ahead.
Updated May 16, 2023, 1:06 p.m. Published May 16, 2023, 1:06 p.m.
Bitcoin's (BTC) year-to-date rally of 63% may be the first milestone in its upward journey.
That's the message from bitcoin's realized price, which appears on track to exceed the realized price of long-term holders. Historically, this so-called bull cross has marked the end of bear markets and the onset of major price rallies.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin's realized price is the average value of bitcoin supply calculated at the price at which coins were last moved on-chain. The long-term holder (LTH) realized price reflects the average on-chain acquisition price for coins held outside centralized exchanges and not moved for at least 155 days.
At press time, bitcoin realized price was $20,129, or just 3.5% short of the LTH's realized price of $20,845, which has been steadily falling since November, according to data tracked by blockchain analytics firm Glassnode.
"Looking at long-term holder realized price as well as realized price (aggregate cost basis of all market participants), they are nearing a bullish cross which has accurately signaled previous bear market bottoms," Blockware Solution's weekly newsletter dated May 12 said.
The chart shows the blue line representing the realized price could soon cross above the green line representing the LTH realized price.
Previous crossovers of the two, dated June 2019, May 2016 and Sept. 2012 paved the way for multi-year bull runs.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Barclays Sees ‘Down-Year’ for Crypto in 2026 Without Big Catalysts
Spot trading volumes are cooling, and investor enthusiasm is fading amid a lack of structural growth drivers, analysts wrote in a new report.
What to know:
- Barclays forecasts lower crypto trading volumes in 2026, with no clear catalysts to revive market activity.
- Spot market slowdowns pose revenue challenges for retail-focused platforms like Coinbase and Robinhood, the bank said.
- Regulatory clarity, including pending market structure legislation, could shape long-term market growth despite near-term headwinds.
Top Stories
