Bitcoin currently trades at a price slightly above its annual average realized supply ratio.
This ratio serves as a key indicator of market equilibrium.
The current state mirrors conditions observed in November 2024, which preceded a significant price surge.
Following that period, Bitcoin’s price advanced from $74,000 to $107,000.
The annual average realized supply ratio is computed by dividing the current Bitcoin price by the realized supply.
This metric suggests Bitcoin demand is presently balanced relative to underlying network fundamentals.
Market dynamics indicate a neutral position similar to the setup visible late last year.