CryptoQuant Founder Says Bitcoin Bottom Remains Elusive, Realized Price Is Key

CryptoQuant is a cryptocurrency analytics firm that tracks onchain data. Founder Ki Young Ju uses “realized price” to measure the market's average cost basis. Bitcoin touched this level at the bear-market lows of previous major cycles, making it an important gauge of whether the market has completed deleveraging and established a bottom.

Ki Young Ju recently said it remains difficult to determine whether Bitcoin has reached the bottom of the current cycle. The key question is whether its price falls to the realized-price level. If Bitcoin reverses higher this cycle without touching that line, it could indicate that the market's structure has fundamentally changed. The reports did not specify the date of his remarks, Bitcoin's current price or the realized price.