Bitcoin is trading at about $87,000, above three major realized-price levels tracked by PlanB: approximately $53,000 for the overall market, $72,000 for the 155-day measure and $86,000 for the two-year measure. Realized price is an on-chain estimate of the average price at which coins last moved. PlanB says a fall below $53,000 now appears less likely during this cycle, weakening the case for a renewed test of the overall realized price, as occurred in previous bear markets. He also says price action in 2025 and 2026 matches the historically more gradual pattern of bull and bear cycles, and expects Bitcoin to set a new high during the current 2024-2028 halving cycle.