Bitcoin prices have been on a steady rise in recent weeks, with the cryptocurrency reaching a new high for the year during the Monday morning Asian trading session. According to Glassnode, those who bought Bitcoin in 2019 are now back in the green, with the average withdrawal price for that year being $21,800. Those who bought in 2020 and 2021 are still in the red, with prices needing to move above $28K and $38K respectively for them to see a profit on their holdings.
Glassnode also reported that the average exchange withdrawal price was much higher for Coinbase and Binance than the overall average, with the outflow realized price for those two being $21,000, whereas the overall average exchange withdrawal price is $16,700. Furthermore, Bitcoin is approaching a key technical price level at the 200-week moving average, which currently sits at $24,713.
Realized price, which is the value of all Bitcoin in circulation at the price the coins last moved, is currently at $19,777. Market sentiment remains positive, with Bitcoin holding onto gains and making a new high for 2023. The Bitcoin Fear and Greed Index is currently at 61, indicating a state of greed. The largest cryptocurrency touched $23,955 during the Monday morning Asian trading session, according to CoinGecko, and is now trading at $23,678, following a 2% gain over the past 24 hours. The total crypto market cap is up 2.2% on the day to $1.11 trillion.