SOPR by Profit/Loss Status
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
About this metric
What it measures
SOPR by Profit/Loss Status groups coins spent that day by their percentage return from last-move cost and divides each group's USD spending value by its original USD value. The band labels are return ranges, while the series are unitless ratios; Overall includes all spent coins.
How to read it
Negative bands have ratios below 1 and positive bands above 1 by construction, so compare the depth within each band rather than treating a crossing of 1 as a signal. The historical median is about 0.992 for -10% to 0% and 2.63 for 100% to 300%. These levels describe returns on the coins spent, not how much volume occupied each band.
Price and spending change the membership continuously, and a high ratio in a profit band cannot establish that profit-taking dominates overall. Empty or inactive bands may have no valid observation; old last values should not be carried forward. Internal transfers can also register measured gains or losses without an economic sale.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Cohorts
- Type
- Breakdown
- Data since
- 2009-01-12
- Latest data
- 2026-10-27
FAQ
How do profit percentages translate into SOPR?
For an individual coin, SOPR equals one plus its return expressed as a decimal. A 40% gain corresponds to 1.4, while a 10% loss corresponds to 0.9; each band then aggregates spending value and original cost.
Is SOPR by PnL the same as MVRV by PnL?
No. Both use cost-based return groups, but SOPR measures coins that were spent during the day. MVRV measures unrealized profitability on unspent holdings, so the group members and weights differ.
What does an extreme >300% SOPR reading mean?
The spent coins in that group had very low aggregate cost relative to spending value. The series reached 916 on July 4, 2025, but that multiple alone does not say how much BTC moved or whether all spending was profitable.
