BITCOIN URPD · SUPPLY BY COST BASIS
Where did people buy their Bitcoin?
Every coin remembers the price it last changed hands at. Put all of them on one ladder and the crowds show up as bright bands: the prices where the most Bitcoin sits.
Where every Bitcoin was last bought
This view uses 5,795 observed dates from 1 Jan 2011 to 12 Nov 2026, across prices from $22 to $133K. Each date has 20 equal groups of Bitcoin between 21 price boundaries. Brighter areas mean the same-sized group fits inside a narrower price range. The white price line uses 5,795 dated readings in this view.
Inspect a date
Choose a custom date range
Both controls stop only on observation dates already used by the chart.
Each column is one day and the vertical axis is price. Bright bands mark where the most Bitcoin was sitting across that stretch of price, and the white line is the price itself over time. Brightness here is coins per band of the chart, so a wide band can glow brightly without being the most tightly packed. Pick a timeframe or drag across the chart to zoom into any stretch, and point at it to read the price at your cursor.
Has the price usually sat above its nearest owners?
Of the coins bought within 20% of the price, the share bought below it, every settled day since 31 Jan 2011. Above the halfway line most of the owners nearest the price are sitting on a gain, so more of the nearby coins sit under it as a floor than over it as a ceiling. Below the line it is the other way round. Each day uses that day’s own closing price, so the line moves when the price moves as well as when the coins do.
Inspect and compare dates
Pick two to four dates and read this chart’s values side by side.
| Measure | Change | ||
|---|---|---|---|
| Bought below the price | 46.9% | 38.3% | −8.65 points |
| Price against what they paid | +0.97% | −3.50% | −4.47 points |
How many Bitcoin were last bought at each price?
A chart of the Bitcoin last bought at each price, from $17,737 to $143,339 in steps of 1% of price, for 12 Nov 2026. Each bar is one step, split by how long the coins have been held. The busiest step is $83,755 to $84,593, with 760,584 BTC. The price is $71,374. The wall below runs from $61,665 to $64,437. The wall above runs from $84,176 to $86,206.
Use the up and down arrow keys to step from one price to the next, plus and minus to zoom, and zero to reset the zoom.
Each bar is one 1% step of price, with the price going up the side. Its length is the Bitcoin whose last move was at that price, split by how long those coins have been held. The white line is the price. The orange box marks the wall below it and the blue box the wall above it. Drag across the chart to zoom into a stretch of prices, or point at it to read a step.
Step through the prices
Each step is 1% of price. The slider goes from the lowest price to the highest, and the reading below it follows.
- 132,432 BTC last moved at these prices.
- under 1 month: 0, 1 to 6 months: 15,080, 6 months to 1 year: 64,570, 1 to 3 years: 52,782, over 3 years: 0.
- The price spent 2% of the last 30 days within a day’s move of here.
- The price is in this step.
Right now
There is a thick band of coins close below.
The thickest band below the price sits between $61,665 and $64,437, about 9.7% underneath. It holds 5% of all Bitcoin.
The price these readings use
Every reading here is measured against Bitcoin’s close on 12 Nov 2026, $71,374.
The coins are counted for the same day, so the dot at the end of the chart sits on the white line, which follows each day’s close.
The thickest walls
Counted per 1% of price, the thickest band below is $61,665 to $64,437, 9.7% under the price, and the thickest above is $84,176 to $86,206, 17.9% over it. Each band holds 5% of all Bitcoin, about 1 million coins.
Each band on the ladder holds the same 5% of all Bitcoin, so what makes one a wall is how narrow it is. A wall is the band on each side with the most coins per 1% of price, leaving out the band the price sits in.
Who holds the walls?
The wall below, $61,665 to $64,437
Of the coins in the wall below, 55.1% were bought within roughly the last five months and 37.0% have not moved for more than a year.
The wall above, $84,176 to $86,206
Of the coins in the wall above, 29.2% were bought within roughly the last five months and 6.2% have not moved for more than a year.
When an exchange moves coins between its own wallets, they count as bought again that day.
When was the price last at each wall?
The price was last in the wall below on 19 Aug 2026, 85 days ago. Since 2014, when the price came back to a wall like this after 20 days or more, it turned back 38 of 49 times and went through 11. Spots at the same distance from the price turned it back 65 times in 100. With this few cases the gap could still be luck. It happens about 4 times a year, so checking it on new prices will take years.
The price was last in the wall above on 22 Oct 2026, 21 days ago. Since 2014, when the price came back to a wall like this after 20 days or more, it turned back 38 of 49 times and went through 11. Spots at the same distance from the price turned it back 65 times in 100. With this few cases the gap could still be luck. It happens about 4 times a year, so checking it on new prices will take years.
How fast does the price move here?
The price spent 1.5% of the last 30 days within a day’s move (1.9%) of today’s price. Since 2014, from a share like that it took a median 11 hours to move a day’s move up or down; where it had spent over 60%, 50 hours, and under 5%, 11 hours. This says how fast, not which way.
Fresh ground starts at $72,088 above and $70,667 below: the price spent under 5% of the last month there.
The whole ladder
The 20 bands for 12 Nov 2026 run from $0 up to $125,650, the highest price any coin last changed hands at. Each holds 5% of all Bitcoin.
Show all 20 bands
| Price band | Bitcoin | Share of all Bitcoin | Against the price | Bitcoin per dollar |
|---|---|---|---|---|
| Under 1 cent | 1,005,553 | 5% | Below | More than 14,088.49 |
| $0 to $3 | 1,005,553 | 5% | Below | More than 14,088.49 |
| $3 to $395 | 1,005,553 | 5% | Below | 2,565.19 |
| $395 to $3,593 | 1,005,553 | 5% | Below | 314.43 |
| $3,593 to $9,133 | 1,005,553 | 5% | Below | 181.51 |
| $9,133 to $17,649 | 1,005,553 | 5% | Below | 118.08 |
| $17,649 to $30,202 | 1,005,553 | 5% | Below | 80.1 |
| $30,202 to $46,815 | 1,005,553 | 5% | Below | 60.53 |
| $46,815 to $61,665 | 1,005,553 | 5% | Below | 67.71 |
| $61,665 to $64,437Thickest wall below | 1,005,553 | 5% | Below | 362.75 |
| $64,437 to $69,294 | 1,005,553 | 5% | Below | 207.03 |
| $69,294 to $74,690 | 1,005,553 | 5% | The price is inside it | 186.35 |
| $74,690 to $77,731 | 1,005,553 | 5% | Above | 330.67 |
| $77,731 to $81,266 | 1,005,553 | 5% | Above | 284.46 |
| $81,266 to $84,176 | 1,005,553 | 5% | Above | 345.55 |
| $84,176 to $86,206Thickest wall above | 1,005,553 | 5% | Above | 495.35 |
| $86,206 to $93,321 | 1,005,553 | 5% | Above | 141.33 |
| $93,321 to $103,560 | 1,005,553 | 5% | Above | 98.21 |
| $103,560 to $110,950 | 1,005,553 | 5% | Above | 136.07 |
| $110,950 to $125,650 | 1,005,553 | 5% | Above | 68.41 |
Bitcoin per dollar is how tightly a band packs its coins: the coins in it for each dollar of its width. The narrower the band, the higher the figure.
The narrowest bands are counted as wider than they are, so their figure is the least it could be and reads “More than”.
Coins worth more than they cost
On 12 Nov 2026, 56.5% of all Bitcoin was worth more than the price it last changed hands at.
That is the exact share for that day, counted coin by coin at that day’s price rather than read off the twenty bands. It is not measured against the $71,374 the walls use.
What the whole network paid
Across every coin, the average price paid is $53,836.
One number for the whole ladder, each coin counted at the price it last changed hands. It moves slowly, because it changes only as coins move or new ones are mined.
Owners near the price
16.5% of all Bitcoin was last bought within 10% of $71,374, and 35.2% within 20%.
The owners within 10% are the ones closest to breaking even. The wider circle is the owners whose gain or loss is still small either way.
Ahead, or waiting to break even
Of the coins last bought within 20% of the price, 38% were bought below it and 62% above it. On average they paid $73,966, and $71,374 is 3.5% below that.
The ones bought below are sitting on a small gain. The ones bought above are still waiting to get their money back. The circle is every coin whose last move was within 20% of the price, either way, which is 35.2% of all Bitcoin. Which side they sit on describes where the coins are, not where the price goes.
Who is holding them
Held for more than roughly five months: 80.9% of all Bitcoin, 16.3M BTC, middle coin bought at $48,134. Bought within roughly the last five months: 19.1% of all Bitcoin, 3.8M BTC, middle coin bought at $77,561.
The same pile, split by how long its coins have been held, counted for 12 Nov 2026. The longer-held group’s middle coin was bought cheaper.
Where recent buyers paid
Of the coins bought within roughly the last five months, 90% were bought between $62,498 and $84,319. The middle coin was bought at $77,561, and $71,374 sits inside that stretch.
Show all 21 rungs
| Share of the group | Price paid |
|---|---|
| The cheapest | $58,239 |
| 5% bought below | $62,498 |
| 10% bought below | $63,144 |
| 15% bought below | $63,932 |
| 20% bought below | $64,686 |
| 25% bought below | $71,613 |
| 30% bought below | $73,343 |
| 35% bought below | $74,228 |
| 40% bought below | $75,851 |
| 45% bought below | $76,770 |
| Half bought below | $77,561 |
| 55% bought below | $77,936 |
| 60% bought below | $79,140 |
| 65% bought below | $80,270 |
| 70% bought below | $80,790 |
| 75% bought below | $81,266 |
| 80% bought below | $81,368 |
| 85% bought below | $82,856 |
| 90% bought below | $83,335 |
| 95% bought below | $84,319 |
| The dearest | $87,029 |
The cheapest and the dearest are single coins, so they can sit a long way from the rest of the group. The stretch in the reading above leaves both out.
That group holds 19.1% of all Bitcoin, 3.8M BTC, counted for 12 Nov 2026. The stretch leaves out the cheapest and the dearest coins at each end, where a single coin can sit a long way from the rest of the group. Where the price sits against it says where the coins are, not where the price goes next.
What the middle dollar paid
Add up what every coin cost when it last changed hands, and half of that money is in coins bought above $82,573, half in coins bought below. The price these readings use, $71,374, is below that, so the middle dollar is behind.
Every number above counts coins, where a coin bought for $100 and a coin bought for $100,000 count the same. Counting money instead answers a different question, and it can answer it the other way round. On 12 Nov 2026, the average coin worth more than it cost was bought at $25,741. Counted by money, where a coin that cost more counts for more, it is $53,003.
What would change this read
These walls move slowly. A coin is counted at the price it last moved at, so a wall changes only when its coins move. When coins inside a thick band change hands, they are counted again at the new price, and the wall thins out or rebuilds around it. A wall can thin out with the price standing still, when coins inside it move.
Each band holds exactly 5% of all Bitcoin, so the chart shows where owners are packed tightest, not exact prices. The walls nearest the price are the first ones a move in that direction reaches.
Understanding
Bitcoin URPD (Supply by Cost Basis)
Where it stands today
Below today's price, the thickest band of Bitcoin owners, counted per 1% of price, paid around $63.1K as of .
What does this map show?
Every Bitcoin on the blockchain carries a record of the price it last moved at, which is a good stand-in for what its current owner paid. Line all the coins up by that price and you get a map of where today’s owners actually bought. Analysts call it a UTXO Realized Price Distribution, or URPD.
How do you read the chart?
This view shows that map for every day at once. Each column is one day, the up-and-down axis is price, and the bright bands are the prices where the most Bitcoin was sitting, walls of owners. The white line running through it is the price itself over time, so you can see the walls form as it climbs. The Coins at each price tab shows the latest day alone: price up the side, and a bar for each 1% step of price, as long as the Bitcoin last bought there.
Why do the walls matter?
Traders often say the walls matter because owners defend the price they paid: people in profit may buy again if the price falls back to their cost, and people who waited underwater may sell the moment they break even. Those are reasons traders give, and only some of what happens at these prices has been measured. The levels track record page shows what has been counted, and what has not. A bright band that has glowed steadily for years is a deep base of long-term owners; a fresh band building around today’s price is where the current fight is happening. Traders call a price area like this support when it sits below the price and resistance when it sits above. It is the same idea as a floor and a ceiling.
How exact is it?
Because each band groups a slice of the supply, this is a map of neighborhoods rather than exact addresses: it shows where owners are packed tightest, not a precise line. It updates every day as coins move and the bright bands slowly rebuild around new prices.
What are the readings about the nearest owners?
Two of the readings above zoom in on the owners closest to the price: the coins that last moved within 20% of it, either way. They get split into the ones bought below the price, who are sitting on a small gain, and the ones bought above it, who are still waiting to break even, and the price is compared with what that nearby group paid on average. Both readings state the circle they use, so you can check them against the map rather than take them on trust, and both are drawn from the same daily record, so the chart of their history runs back to 2011.
Source: Built from where every Bitcoin last changed hands, grouped into twenty bands that each hold 5% of all the coins. The white line is Bitcoin’s daily close. Reading for .