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Realized Loss: Long- vs Short-Term Holders

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Realized Loss: Long- vs Short-Term Holders divides daily on-chain USD losses between Long-term holders and Short-term holders, using a holding-age boundary of about 155 days. Loss equals BTC spent below cost multiplied by the drop from its previous last-move price; Total combines both cohorts.

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When Short-term holders account for more losses, stress is concentrated in recently moved supply. A growing Long-term holders contribution shows older coins moving below cost as well. Their historical maxima occurred on different days: about $4.13 billion for long-term holders on November 18, 2022, versus $3.73 billion for short-term holders on June 13, 2022.

USD loss measures combine the amount moved and the depth of the loss, so they do not reveal how many holders participated. The age boundary is a classification rule, not a statement of intent. Custody transfers and wallet reorganization can create loss realizations without an exchange trade; an isolated spike cannot confirm a market turning point.

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Dagligt (UTC 00:00)
Aktiv
BTC
Kategori
Kohorter
Type
Fordeling
Enhed
USD
Data siden
2009-01-12
Seneste data
2026-10-28

FAQ

What distinguishes LTH and STH realized losses?

The coins' age before spending determines the cohort, with about 155 days separating long-term and short-term holdings. Both series apply the same USD loss calculation.

Can short-term holders move more coins but realize less loss?

Yes. Many coins moving just below cost can create less USD loss than a smaller amount moving far below cost. Compare these amounts with LTH vs STH Spent in Loss to separate volume from loss severity.

Can both holder groups realize losses on the same day?

Yes. Each group can contain coins with costs above that day's spending price. Their loss amounts contribute to Total, even when other coins in either group move at a profit.