Tracking the "realized price," or the average price at which bitcoin BTC $106,546.31 is withdrawn from all exchanges to estimate a market-wide cost basis is a more valuable tool for gauging investor profitability and potential inflection points in market sentiment.

Bitcoin hit an all-time high after the advancement of stablecoin legislation in the US stoked hopes of regulatory clarity under President Donald Trump.

Like many other cryptocurrencies, Bitcoin suffered through a prolonged slump in the months between, falling as low as $75,000 in March. Its price has climbed steadily ever since a