
Cost Basis Distribution Quantiles rank circulating BTC by last-moved USD price and identify supply-weighted cost percentiles. P25, P50 and P75 are prices below which roughly 25%, 50% and 75% of supply fall; all lines are USD per BTC, not percentage returns.
A rising P50 means the middle of the held-supply cost ranking is moving upward; the spacing between P25 and P75 describes how dispersed the middle half is. On October 17, 2026, P25 was about $8,932, P50 $63,289 and P75 $84,555, showing a wide spread between low-cost and more recently repriced supply.
These are percentiles across coins on each date, not historical percentiles of BTC price. Self-transfers can reprice supply and lost coins remain at old costs; densely clustered costs can produce abrupt quantile moves, while a high cost quantile does not by itself establish a resistance level.
It is the median of the supply-weighted last-moved cost distribution. With the same coverage and cost conventions, that is the Median Realized Price; an average Realized Price is a different statistic.
Roughly three quarters of the measured supply has a reference cost at or below P75, and is therefore below the market price. It does not mean three quarters of investors have that profit status, because coins rather than people are weighted.
A cost quantile ranks coins against other coins on the same date. A history percentile ranks a metric's current reading against its own past readings, so the two answer different questions.