Bitcoin Equilibrium: Active Market Participants Just Breaking Even

On-chain data shows the Bitcoin price is currently floating around the cost basis of the Active Investors, suggesting this cohort is at break-even. Bitcoin Is Trading At The Active Investors Mean In a new post on X, on-chain analytics firm Glassnode has shared an update on where the major Bitcoin on-chain levels currently stand. There are four pricing models of interest here, the most basic of which is the Realized Price. The Realized Price basically keeps track of the cost basis or acquisition level of the average investor on the BTC network. The spot price trading above this line means that the holders as a whole are in a state of net unrealized profit, while the reverse situation suggests the dominance of loss in the market. Related Reading: XRP Exchange Inflows Spike To End 2025: Will Price Decline Deepen? Below is the chart shared by Glassnode that shows the trend in this metric over the last few years. As displayed in the graph, the Bitcoin spot price crossed above the Realized P