Bitcoin’s Realized Price Level Reached A New All-Time High

Bitcoin’s realized price level just reached a new all-time high and now the metrics are looking good so let’s read more in today’s Bitcoin price news.

As the current price of the asset rises, so does the realized price. Today, Bitcoin’s realized price hit a new all-time high of $7,670.15 and the realized cap also hit a new all-time high. Bitcoin’s price is increasing but that’s not the only metric that is breaking records. Today’s Bitcoin’s realized price level hit a new high according to Glassnode.

📈 #Bitcoin $BTC Realized Price just reached an ATH of $7,670.15

Previous ATH of $7,669.71 was observed earlier today

View metric:https://t.co/1lFrCHsntP pic.twitter.com/pChaD3UabR

— glassnode alerts (@glassnodealerts) December 13, 2020

The realized price is quite different from the actual price in what refers to the value of the coins that are used. It monitors the value of active crypto and excludes the lost coins of the crypto assets left dormant in the wallets for a few years. It is calculated by dividing the capitalization that is realized with the circulating supply. And today we can see that the realized capitalization hit a new all-time high of $142.43 billion as per Glassnode.

This metric was devised by Coin Metrics which measures the aggregate value of the cryptocurrency network by multiplying each crypto by the last time it moved. So If a coin was moved two years ago when the price was $4000, the metric will take that into account rather than the price of today when they calculate the realized cap. These metrics are indicative of a healthy market since Bitcoin’s price smashed records this year as an explosion of interest in the crypto space mainly in the decentralized finance space and interest from companies like Microstrategy and Square that invest in it.

Bitcoin’s current price pushed past $19,000 which marks an increase of 4.42% in the past day according to the CoinMarketCap data.

Speaking of the price of the asset, Bitcoin’s short-term propositions look quite dangerous for the bulls since BTC was showing some signs of strength over the past few days and the bulls managed to defend against the sustained drop below $18,000.The buying pressure below this level was tempered and sparked a slower climb higher so until the cryptocurrency can reach a new level that starts off a new buying spree that could boost a V-shaped recovery, there a chance that it will see more weakness ahead.