Entity-Adjusted Short-Term Holder Transfer Volume in Loss

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Entity-Adjusted Short-Term Holder Transfer Volume in Loss adds the BTC transferred each day from the recent holding cohort to other entities below estimated acquisition cost. The cohort lies on the recent side of the roughly 155-day holding boundary, and identified transfers within one owner are excluded.

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Rising readings highlight movement by recent holders whose coins are underwater, while falling readings show less such activity. The 2022 high was about 454,332 BTC on June 13, compared with a yearly low near 19,157 BTC. Comparing this with profitable recent-holder volume helps distinguish loss-heavy turnover from a general rise in transfers.

A decline can reflect holders choosing not to move or price recovering above cost, rather than every loss being absorbed. This is not the total recent supply in loss or the dollar value lost. Clustering uncertainty and non-trading transfers remain relevant even after entity adjustment.