The average acquisition cost of Short-Term Holders (coins moved within the last 155 days). Represents the cost basis of recent market participants and speculators.
STH Realised Price acts as key support in bull markets and resistance in bear markets. When price drops below STH Realised Price, short-term holders are underwater, often triggering capitulation.
The average acquisition cost of Long-Term Holders (coins held for more than 155 days). Represents the conviction price of patient, long-term investors.
A mathematical model that plots Bitcoin's price on a logarithmic scale over time, creating a corridor of expected prices. Based on the observation that Bitcoin's price follows a power law relationship with time.
Measures the premium that the market places on Bitcoin above its utility value (transaction volume). A high monetary premium indicates strong store-of-value demand.
Realised HODL Ratio — compares the realised value of 1-week-old coins to 1-2 year-old coins. Measures the ratio between speculative and conviction capital in the market.