Entity-Adjusted Realized Profit

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Entity-Adjusted Realized Profit sums the USD gains when BTC moves between identified entities above its attributed acquisition cost. Addresses controlled by the same holder are grouped to filter internal transfers, and losses are not deducted from the daily profit total.

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Higher readings indicate that more accumulated gain is being recognized between holders. The 2024 high was about $4.57 billion on November 21, while the 2025 high was about $5.68 billion on July 14. Lower readings mean less profit-bearing turnover, but can also occur because holders with large gains keep their coins stationary.

Entity adjustment reduces internal-transfer noise without proving that every remaining movement is a sale. Clustering can be revised, and large low-cost holdings still produce outsized totals. Profit alone does not show how much new demand absorbed the coins or whether losses were also large that day.