Bitcoin finds stability at 2023 investor cost basis, echoing past cycle

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin finds stability at 2023 investor cost basis, echoing past cycle Onchain cost basis data suggests $60,000 is a critical support, with deeper historical support near $54,000. By James Van Straten | Edited by Oliver Knight Mar 24, 2026, 11:58 a.m. Make us preferred on Google Realized Price (Checkonchain) 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. Bitcoin recently found support at a key onchain metric — the average realized price for a specific year — in this case the 2023 cost basis. The 2023 average realized price currently sits around $63,700. During the local bottom in early February, when bitcoin dropped roughly 50% from its October all-time high, to roughly $60,000, price effectively tested and held this level as support. This behavior mirrors the previous cycle. In early 2023, as the bull run began, bitcoin experienced several small corrections and repeatedly used the 2023 realized price as support. This can be observed in March, July, and September 2023, when price consolidated in the $20,000 to $26,000 range. Looking at newer cohorts, the 2026 average realized price started the year near $90,000 and has since declined to around $77,000. With bitcoin currently trading just above $70,000, the average 2026 buyer is underwater. Notably, this cohort’s cost basis has also fallen below both the 2024 cohort at $81,500 and the 2025 cohort at $96,400. Zooming out further, the aggregate realized price, which represents the average cost basis of all coins in circulation, is currently around $54,360. Historically, bitcoin has traded below this level in every major bear market, including 2011, 2015, 2019, and 2022. So far in this cycle, bitcoin’s lowest price has been around $60,000. If that level fails, it becomes the next key support to watch, with the realized price at $54,000 acting as a deeper historical floor. Realized Price (Glassnode) Bitcoin News More For You Bitcoin leads crypto rebound to $71,000 as $550 million in shorts liquidated By Oliver Knight , Omkar Godbole | Edited by Sheldon Reback 1 hour ago BTC climbs despite escalating Middle East tensions, outperforming gold as altcoins rally and derivatives data signals cautious but improving market sentiment. What to know : Bitcoin has gained 4% in 24 hours to $71,000, outperforming gold despite ongoing Middle East tensions and weakness in U.S. equity futures. More than $550 million in liquidations hit mostly short positions, while declining open interest suggests the rally isn’t driven by new leveraged participation. Altcoins are showing relative strength, but concerns remain over DeFi weakness and fading memecoin performance. Read full story Latest Crypto News Invesco joins tokenization race as it takes over Superstate’s $900 million onchain fund 29 minutes ago The $75,000 line in the sand: What it’ll take for bitcoin to go "full bull" 44 minutes ago Crypto-friendly fintech Revolut sees profit soar 57% to $2.3 billion in 2025 56 minutes ago Bitcoin leads crypto rebound to $71,000 as $550 million in shorts liquidated 1 hour ago Fund services giant Apex to tokenize Bitcoin mining note on Coinbase’s Base platform 2 hours ago Here’s how Treasuries could shape Trump’s Iran war and bitcoin moves 4 hours ago Top Stories Balancer Labs will shut down as corporate entity became 'a liability' after $110 million exploit 5 hours ago Bitcoin's mining concentration just showed up in a rare 2-block reorg 7 hours ago Bitcoin, ether, solana prices move higher as Gulf allies inch toward joining Iran war 6 hours ago BlackRock is betting billions that tokenized funds will do for Wall Street what the internet did to mail 19 hours ago Stablecoin yield in crypto Clarity Act won't allow rewards on balances, latest text says 13 hours ago