Realized Price - UTXO Age Bands breaks down Bitcoin's aggregate Realized Price into cohort-specific cost basis levels, displaying the average price at which each age group of UTXOs last moved on-chain. Each band represents the realized price of coins that have been dormant within a specific time window - from recently transacted outputs to those held for multiple years.
This metric provides a granular view of where different holder cohorts are positioned relative to current market price. When spot price trades above a given age band's realized price, that cohort is in aggregate profit - older bands sustaining profitability across cycles reflects the resilience of long-term holder conviction. When spot price approaches or breaches a cohort's realized price from above, it signals that group is approaching or entering loss territory, which can trigger behavioral shifts such as capitulation or reduced selling incentive depending on the cohort.
Overlaying multiple age bands simultaneously reveals the layered cost basis structure of the market - identifying which cohorts are driving unrealized profit, where structural support levels are concentrated, and how the distribution of on-chain cost basis evolves across different phases of the market cycle.
