A composite metric identifying when selling pressure has been exhausted, often signaling market bottoms. Based on supply profitability, realised loss trends, and volatility compression.
Seller exhaustion signals combine with low volatility to mark optimal accumulation zones. Historically one of the most reliable bottom indicators.
Spent Output Profit Ratio — the ratio of the price at which coins were spent to the price at which they were acquired. Shows whether coins are being moved at a profit (>1) or loss (<1).
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.
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.
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.