Realised Profit/Loss
What Is Realised Profit/Loss?
The total profit or loss actually realized by coins that moved on-chain. Calculated from the difference between the price at which coins were acquired and the price at which they were moved.
How to Interpret
Large spikes in realised profit — holders locking in gains — can create sell pressure at tops. Sustained realised losses indicate capitulation during bear markets.
More Profit & Loss Metrics
Realised Cap
The sum of all UTXOs valued at the price they were last transacted. Unlike market cap which values all coins at current price, Realised Cap weights each coin by its last on-chain moved price.
Supply in Profit/Loss
The percentage of Bitcoin's circulating supply currently held at a profit vs. at a loss. Determined by the acquisition price of each UTXO relative to current price.
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.
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.