RealizedPrice_STH
Tech spec
| Field | Value |
|---|---|
| API name (slug) | realized_price_sth |
| Group | realizedprice |
| Unit / Valuetype | usd / price |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/realizedprice |
| Tier | 0 |
| Last updated | 2025-08-19 17:22 UTC |
| Docs | Open in Swagger |
Brief Description: The average on-chain acquisition cost of all Bitcoin in circulation.
The RealizedPrice_STH refers to the average acquisition cost of Bitcoin, calculated by totaling the value at which each coin was last moved and then dividing by the current total supply. In essence, it reflects the capitalized cost for the experienced investors based on when coins were last transacted.
Metric variants
- _lth: RealizedPrice_STH restricted to Long-Term Holders (age ≥ 155 days).
- _sth: RealizedPrice_STH restricted to Short-Term Holders (age < 155 days).
Interpretation RealizedPrice_STH measures the average cost basis of investors and can be used to assess market sentiment. A rising RealizedPrice_STH indicates that newer coins acquired at higher prices are becoming a larger part of the supply, which can suggest a lower bound for Bitcoin's price. Conversely, a stagnant or falling RealizedPrice_STH suggests that the cost basis is not increasing, potentially indicating a lack of market activity or accumulation at lower prices. During bull market drawdown, the RealizedPrice_STH tends to offer a robust support to the Bitcoin price if short term confidence is high. During bear market rallyes, the RealizedPrice_STH tends to offer a robust resistance to the Bitcoin price if short term confidence is low.
Advanced Explanation The RealizedPrice_STH is the representation of the "fair value" of the market, the price at which the average investor in holding his coins. It helps to determinate a key psychological level that acts as financial baseload of the market.
It's computed by aggregating the value of each coin at the time it was mined or last moved and dividing by the current circulating supply of Bitcoin. Two separate variants of RealizedPrice_STH take into account the age of coins: one for coins held for more than 155 days (LTH version) and another for those held for fewer days (STH version).
To express this mathematically:
RealizedPrice_STH = (Sum of each coin's value at the time of last move) / (Current circulating supply)