Realized Price - Long-Term Holders
Average acquisition price of all coins held over 155 days. The LTH cost basis represents deep structural support - the price rarely sustains below this level for long.
What is it?
LTH Realized Price is the weighted average cost of coins held for more than 155 days. It evolves very slowly because mature coins have old base prices that only change when spent. LTH-RP is structurally lower than STH-RP and global RP, because long-term holders have by construction older (and historically lower) acquisition costs. It represents the on-chain 'last safety net.'
How to read
Plotted below the global Realized Price on the chart, LTH-RP is an extreme support. Spot price only drops below it in the most extreme conditions (2015, 2018, briefly in 2022). A drop below LTH-RP means even the most patient holders are at an average loss - an ultimate capitulation condition. The distance between STH-RP and LTH-RP defines the market's structural 'cost band.'
Key zones
LTH-RP has historically served as final support during bear market capitulations. When price is between global RP and LTH-RP, the market is in a 'stress zone' where STH are at a loss but LTH maintain profit. If price drops below LTH-RP, all cohorts are at a loss - historical bottom indication.
What to observe
STH-RP → LTH-RP convergence (narrowing gap) indicates recent entry costs approaching old costs - typical of prolonged bear market phases. Divergence (widening gap) indicates new entrants paying much more than LTH - typical of advanced bull market phases.
Historical context
LTH-RP was only touched by spot price 4 times: 2011, 2015, 2018-2019, and 2022. Each time marked the absolute or near-absolute cycle troughs. The drop below LTH-RP in 2022 (FTX collapse, price ~$16K, LTH-RP ~$16.5K) was the final cycle capitulation indication.
Expert notes
LTH-RP is biased downward by Satoshi's lost coins (~1M BTC at $0-$1 price). If these coins could be excluded, LTH-RP would be notably higher. True Market Mean Price (Cointime) is an approximation that attempts this correction by weighting by coinblocks. For advanced use, RP by age cohort (#32) offers superior resolution to the simple STH/LTH binary.
Common mistakes to avoid
LTH-RP as 'absolute floor' is a historical observation, not a law. If the market changes structurally (major government ban, cryptographic flaw), price could stay below LTH-RP for much longer than the historical 1-2 months. Past performance does not predict future performance.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/realized-price-lth/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "realized-price-lth",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.