Market updates
Beyond Peaks: What Realized Price Says About Bitcoin’s Health
Beginner
2025-05-21 | 5m
Bitcoin’s current price of around $105,000 is about 12% above the average cost at which investors in 2025 bought in, known as the “realized price” ($93,266). This suggests that most recent investors are in profit, which is a positive sign. Unlike flashy headlines that focus on record highs like $109,000, this “realized price” metric gives a clearer view of the market’s health by showing the average cost basis of actual buyers.
Historically, when Bitcoin's price falls below this average, it often signals investor panic and market bottoms. That happened briefly in early 2025, similar to past dips after the 2024 ETF launch and the 2023 banking crisis. But such dips often lead to recovery, as seen by Bitcoin's rebound after April 2025.
In the bigger picture, the realized price grows over time, reflecting more long-term investment and a stronger foundation for the market. Instead of comparing peaks from past years, it’s more useful to look at how the average cost of all holders is rising, which shows the growing trust and value being placed in Bitcoin over time.
Source:
CoinDesk
Futures Market Updates
In the past 24 hours, BTC futures saw a 3.49% increase in open interest, while ETH futures experienced a slight decline of 0.83%, indicating stronger bullish positioning in BTC. Despite this, trading volumes dropped for both, with BTC down 13.57% and ETH down 15.95%. Liquidations show contrasting pressure: BTC had more short liquidations, whereas ETH saw significantly more long liquidations. The long/short ratio remains near balance for both assets, though ETH slightly favors shorts. Notably, ETH's funding rate (0.0056%) is higher than BTC's (0.0018%).
BTC Futures Updates
Total BTC Open Interest: $75.07B (+3.49%)
BTC Volume (24H): $121.07B (-13.57%)
BTC Liquidations (24H): $22.76M (Long)/$34.13M (Short)
Long/Short Ratio: 50.37%/49.63%
Funding Rate: 0.0018%
ETH Futures Updates
Total ETH Open Interest: $30.74B (-0.83%)
ETH Volume (24H): $87.64B (-15.95%)
ETH Liquidations (24H): $37.73M (Long)/$21.27M (Short)
Long/Short Ratio: 49.47%/50.53%
Funding Rate: 0.0056%
Top 3 OI Surges
RIZ: $1.85M (+653.62%)
NOBODY: $1.05M (+326.23%)
AGT: $10.26M (+173.94%)
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