Definition
We can monitor the average price at which coins are withdrawn from all exchanges as a tool to estimate a market-wide cost basis. In this chart, we consider the average withdrawal prices for cohorts established by date, starting on the 1-Jan for the following cohorts:
Quick Take
Bitcoin is now above the realized price of every year other than 2021. Investors, for the past few years, are sitting on some profits, which is encouraging for participants.
All-time: $11,173 2017+: $15,267 2018+: $18,698 2019+: $21,863 2020+: $26,413 2021+: $36,465 2022+: $26,225 2023+: $22,394
Exchange Withdrawal Price: (Source: Glassnode)
Exchange Withdrawal Price: (Source: Glassnode)
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