Long-term holder SOPR — Bitcoin onchain, per block

A high value means the holders who have sat still for more than five months are selling at a large multiple of what they paid, which is the clearest distribution signal there is; a low value means even they are selling at a loss.

DefinitionSOPR restricted to coins 155 days or older, ranked on ln(). It read 4.27 at the 2017 top, 3.56 in 2021 and 0.80 in the 2022 capitulation.

Limit155 days is a convention borrowed from the industry, not a natural boundary in the data, and this carries fewer spends behind it than plain SOPR.

Unitratio

Also filed under

Are holders selling at a profit Are the coins moving right now being sold at a gain or a loss?
Long-term and short-term holders What are the patient holders doing, against the recent buyers?
Cycle position Where in the cycle are we, on the fifteen indicators the dashboard ranks?
SOPR are spent coins moving at a gain or a loss
Adjusted SOPR SOPR with same-day shuffling removed
Short-term holder SOPR are recent buyers selling at a gain or a loss
Realized profit / loss ratio how much profit is taken for every euro of loss

Every metric · Back to the explorer