Part 5/8:
The realized price, which represents the average cost base of Bitcoin that moved on-chain (excluding exchange transactions), is a crucial indicator of market health. Currently, the two-year realized price stands at $71, which is a notable increase from November's figure of $64.
The upward trajectory of the realized price historically aligns with the bullish phases of Bitcoin's market, showing significant divergence from the moving average during these periods. This divergence reaffirms the signs of a continuing bull market. Even with the monthly close below ATH levels and the RSI not yet entering the red phase, the robust increases in the realized price reflect strong market sentiment.