What to know:
- Bitcoin recently held the 2023 realized price around $63,700 as support, echoing similar behavior seen during multiple corrections in 2023.
- The broader realized price sits near $54,300, a level historically breached in bear markets, making it the next major downside support if $60,000 fails.
In this article
BTCBTC$71,127.50◢1.45%Bitcoin’s price recently stabilized around a significant on-chain indicator: the average price paid for all bitcoins acquired in 2023. This level acted as a support, preventing further price declines.
As of today, the average price we’re seeing for Bitcoin is around $63,700. Interestingly, back in early February, when the price dipped about 50% from its peak in October – down to around $60,000 – that level acted as a solid floor, and the price bounced back. It seems $60,000 is now a key support level.
We’re seeing a similar pattern to what happened earlier in the year. When Bitcoin started to rise in early 2023, it dipped slightly several times, consistently finding support around the $20,000 to $26,000 price level – a price it reached in 2023. This happened in March, July, and September, where the price stabilized within that range.
More recent Bitcoin buyers, specifically those from 2026, initially paid around $90,000 per Bitcoin, but the price has dropped to about $77,000. Because Bitcoin is now trading just above $70,000, these 2026 buyers are currently losing money on their investment. Their average purchase price is now lower than that of buyers from both 2024 ($81,500) and 2025 ($96,400).
In my research, I’ve found that the average cost basis of all Bitcoin currently in circulation – what we call the aggregate realized price – is around $54,360. Looking back at past market downturns – like those in 2011, 2015, 2019, and 2022 – Bitcoin’s price has always fallen below this level during major bear markets.
Bitcoin has dipped to around $60,000 during this market cycle, which is its lowest price so far. If the price falls below that level, traders will likely watch for support around $54,000, a historically significant price point.
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2026-03-24 14:58