Short-Term Holder Relative Unrealized Loss
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Short-Term Holder Relative Unrealized Loss sums paper losses on coins held for less than about 155 days and divides by the current market value of the short-term holder cohort, shown as a percentage. Losses use the gap between the last-move cost estimate and spot price; profitable holdings do not offset them.
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A sharp rise means recently moved supply is carrying deeper paper losses relative to its market value, while low readings mean little loss pressure in this cohort. Annual highs were about 50.13% on July 20, 2021 and 67.82% on June 18, 2022, illustrating how severe recent-holder stress has varied.
Coins age out near the cohort boundary and new transfers reset the measured cost, so a falling reading can reflect turnover or a changing membership rather than recovery. It measures gross paper loss, not realized selling, and is not directly additive to the long-term holder ratio.
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- BTC
- Kategori
- On-chain-indikatorer
- Type
- Enkeltverdi
- Data siden
- 2009-01-03
- Nyeste data
- 2026-10-28
- Datapunkter
- 6,508
FAQ
Are recent holders the same as short-term holders?
Yes. STH refers to the short-term holder cohort, conventionally separated at roughly 155 days. The label describes coin age rather than a verified short-term trading intention.
Why can short-term holder relative loss exceed 100%?
Losses are compared with the cohort's current market value, which can shrink far below its previous cost. The recorded high of about 378.7% on October 19, 2011 is therefore a loss-to-value ratio, not the share of people losing money.
Can STH loss be added to LTH loss to get the whole-market ratio?
No. Each ratio is normalized by its own cohort's current market value. Combining them requires weighting each ratio by that cohort's share of total market value.
