[Analysis: BTC Trader On-chain Realized Price Rises Again, Short-to-Medium-Term Cost Structure Remains Positive] BlockBeats reported on October 26th that CryptoQuant certified analyst Trader_Gemini stated that the Trader On-chain Realized Price has risen again and is currently becoming an important reference indicator for observing the future trend of BTC. This indicator reflects the average acquisition price of BTC in the last 1 to 3 months and can be used to measure the average holding cost of recent market participants. Currently, the BTC trading price is in the low $80,000 range, while the trader realized price has risen to the mid-$70,000 range, meaning that the current BTC price is still higher than the average cost of recent traders. From the current structure, recent market participants are generally still in a state of unrealized profit, and the short-to-medium-term cost structure remains positive. Historically, during market uptrends, the trader realized price often acts as support when BTC retraces to near this level. If the price can hold this cost line, it indicates that the recent participants' holding costs may still provide support for the market; conversely, if BTC falls below this level, some traders with unrealized losses may sell when the price rebounds to near their cost, thus turning this level from support into resistance. Furthermore, Trader_Gemini also reminds readers to pay attention to the upper band of the indicator. Historically, when the BTC price approaches the upper band, it is often accompanied by increased profit-taking pressure and a possible short-term pullback. Therefore, if BTC continues to rise, the market reaction near the upper band is worth observing; if BTC pulls back, attention should be paid to whether the realized price can provide effective support. Trader_Gemini emphasizes that the upper band does not necessarily mean the market has topped out, and the realized price does not guarantee a BTC rebound. Neither should be considered an automatic trading signal, but rather a reference indicator to determine at what price levels recent market participants might change their behavior. Currently, BTC is still trading above the realized price, and the overall cost structure remains positive. Whether this indicator can continue to provide support should a deeper correction occur will be a key point to observe. [Original Link]