The average realized price for Bitcoin (BTC) purchasers in 2024 was $65,901. Despite Bitcoin more than doubling in price over the year, buyers experienced an average unrealized profit of about 40%. The realized price, which reflects the average value of Bitcoin at the last on-chain movement, stands at over $41,000 since Bitcoin's inception in 2009. As we begin 2025, the average cost basis for buyers remains around $95,500, indicating that buyers are starting the year with slight profits given the trading price of Bitcoin at over $96,000. Monitoring the realized price helps assess participants' profitability and serves as vital support during bear markets. Historically, when Bitcoin prices dip below the realized price, it often signifies a local bottom. This analysis suggests that understanding the cost basis of Bitcoin transactions can provide trading insights, especially in light of the recent launch of U.S. spot-listed exchange-traded funds (ETFs).

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