Every Zipp story tagged #RealizedPrice, newest first.
Spot at $64.9K sits under the STH cost basis, true market mean, and active investor mean, with realized price the only line still anchoring the cycle low.
The 200WMA at $62,400 is the line everyone watches, but every prior cycle bottom formed just under realized price, and whale cohort cost basis sits in the $49K to $54K band.
Realized price is the aggregate acquisition cost across the network — historically every BTC bear market has dipped below it, and the current ~$54K level lines up with midterm-year cycle timing.
Glassnode
CoinDesk
Benjamin Cowen