The current price of Bitcoin is approaching the 2-Year Realized Price, reflecting the average cost of UTXOs that have moved in the past 2 years. This is an important psychological support and structural threshold, often reflecting the cost of market participants in previous growth phases.

It is noteworthy that BTC has maintained above the 2-Year Realized Price since October 2023, indicating sustained confidence from investors and the potential for establishing a long-term value base.

If the price continues to hold steady or rebounds from this level, it may signal that capital flow is consolidating, strengthening the growth trend.