Definition
 The Realized Price reflects the average on-chain acquisition price for the entire coin supply.
 Short-Term Holder (STH) Realized Price reflects the average on-chain acquisition price for coins held outside exchange reserves, which were moved within the last 155 days. These reflect the most probable coins to be spent on any given day.
 Long-Term Holder (LTH) Realized Price reflects the average on-chain acquisition price for coins held outside exchange reserves, which have not moved within the last 155 days. These reflect the least probable coins to be spent on any given day.
Quick Take
- For the first time since May 5, 2019, the short-term holder realized price is above-realized price, a metric that CryptoSlate has followed for a while.
- In addition, the same event occurred in the 2015 bear market on Nov. 3, 2015, where STH realized price exceeded the realized price.
- Currently, STH realized price is at $19,892, while realized price is at $19,850; it is paramount that the Bitcoin price stays above $20,000 in the short term to increase the cost basis of the STH cohort.
- In the coming weeks, we could see STH realized price trying to get above LTH realized price — currently a difference of $3,000 — which could signal a potential end to the bear market.
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