Long- vs Short-Term Holder Realized P/L Share to Exchanges
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
About this metric
What it measures
Long- vs Short-Term Holder Realized P/L Share to Exchanges groups the realized USD gains and absolute losses on exchange-bound coins into LTH profit, LTH loss, STH profit and STH loss. Each is a percentage of the combined P/L magnitude on those inflows, using a holding-age boundary around 155 days.
How to read it
An expanding STH loss share points to recent holders depositing below their cost; an expanding LTH profit share shows profitable older holdings entering exchanges. On October 17, 2022, LTH loss alone accounted for about 70.4% of the exchange-inflow P/L mix, compared with about 49.1% in the network-wide measure.
Deposits can fund collateral, custody or market-making rather than immediate sales. Exchange address coverage and attribution revisions affect the series, and percentages conceal the total dollar size, so read them alongside inflow volume and absolute realized P/L.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- On-chain Indicators
- Type
- Breakdown
- Data since
- 2011-08-17
- Latest data
- 2026-10-27
FAQ
Does exchange-inflow realized P/L prove that deposited BTC was sold?
No. The gain or loss is assigned at the on-chain transfer price relative to the estimated cost basis. The later execution price and even whether a sale occurred are not visible here.
Why can the exchange P/L mix differ from the whole network?
Only transfers to identified exchanges enter this version. Other transfers can dominate network-wide profit or loss without appearing in the exchange-bound sample.
Can STH loss share rise while exchange deposits fall?
Yes. The chart normalizes P/L magnitudes, not BTC deposit volume. A smaller flow can have a higher loss share if profitable flows or the other cohort's contributions decline faster.
