What if we told you Bitcoin’s “true price” isn’t what you see on the chart? 🤯 Enter Balanced Price — a revolutionary concept by David Puell that redefines how value is measured during accumulation and capitulation phases.
🔎 What Is Transferred Price?
Traditional models miss a core variable: coin destruction. By factoring in coin days destroyed and weighting it against supply and time, Transferred Price reveals the real spending behavior of long-term holders — those who truly move markets.
> 🧮 Formula: Transferred Price (USD) = Σ (Coin Days Destroyed × Price) / (Days × Supply)
This isn’t just math — it's psychology translated into price. It tells us when experienced investors are offloading, giving us rare insights into market detox phases.
🧠 Enter Balanced Price – The Detox Level
When you subtract Transferred Price from Realised Price (the average cost basis of all coins), you get Balanced Price — a true equilibrium zone during bear markets. It’s the level where markets fully reset and prepare for the next leg up.
> 📉 Formula: Balanced Price = Realised Price – Transferred Price
⚡Why It Matters?
Balanced Price is the silent hero of market cycles. While Delta Price may catch the wick bottoms (those fast dips), Balanced Price identifies the real accumulation range — the soil in which bull markets grow.
📊 You can explore these groundbreaking metrics on Woobull Charts, where the theory comes to life.
Stay tuned — the next evolution of coin days destroyed analysis is just around the corner.
📘 This insight was co-authored by David Puell, Head of Research at Adaptive Capital — where on-chain data meets market mastery.
