Capital Rotation
What Is Capital Rotation?
Tracks the flow of capital between different cohorts of Bitcoin holders — from long-term holders to short-term holders and vice versa, based on UTXO age distribution changes.
How to Interpret
When capital rotates from LTH to STH (old coins moving to new hands), it signals distribution at tops. Rotation from STH to LTH signals accumulation at bottoms.
More Profit & Loss Metrics
Sell-Side Risk Ratio
Measures the total amount of realised profit and loss relative to the Realised Cap. Indicates the significance of profit/loss-taking activity relative to the market's total value.
MVRV Gradients
The rate of change of the MVRV ratio over time. Shows the acceleration or deceleration of unrealised profits/losses across the market.
Net Realised Profit/Loss
The net difference between realised profit and realised loss on a given day. Shows whether more value is being realised as profit or loss across the network.
URPD
UTXO Realised Price Distribution — shows the distribution of Bitcoin's supply at the price levels where coins were last moved. Creates a histogram of cost basis across all supply.