Bitcoin’s Realized Price Signals Resilient Market Despite Near-All-Time High

As Bitcoin (BTC) trades near its all-time high of $109,114 on May 21, 2025, the realized price reveals a more nuanced story of market strength. While recent price action has stalled at key resistance levels, on-chain indicators point to a robust foundation for further growth. The realization price metric, reflecting the average purchase cost of Bitcoin held by investors for extended periods, sits at $93,266 – indicating a profit margin of approximately 14% for those who bought in earlier. This suggests a shift away from speculative highs towards a more grounded and sustainable market.