Realised price
The aggregate cost-basis of every coin in circulation. Spot price minus realised price tells you whether the network is in profit or in loss on average.
Cycle 5 · with zones
Current cycle since the 2024 halving — use the range buttons to zoom in.
halvinglens.com · rp
Current reading
$53.57K
Tracked
Updated 31 May 2026, 21:20 UTCWhat it's telling us today
RP currently reads $53.57K — Tracked. A middle-of-the-road range — neither cheap nor stretched.
Why this matters
Spot crossing below realised price is the textbook capitulation event — has marked every bear-market bottom (2015, 2018, 2022).
Cross-cycle view coming
This is a live on-chain metric, but our current free data source only reaches back about four years — so we show it for the current cycle only rather than drawing a 4-cycle comparison from data we don't have. Price-based metrics (Mayer, Puell, Rainbow) keep the full multi-cycle overlay.