The average acquisition cost of Short-Term Holders (coins moved within the last 155 days). Represents the cost basis of recent market participants and speculators.
STH Realised Price acts as key support in bull markets and resistance in bear markets. When price drops below STH Realised Price, short-term holders are underwater, often triggering capitulation.
Measures the premium that the market places on Bitcoin above its utility value (transaction volume). A high monetary premium indicates strong store-of-value demand.
The average acquisition cost of Long-Term Holders (coins held for more than 155 days). Represents the conviction price of patient, long-term investors.
Net Unrealised Profit/Loss — measures the total profit or loss of all Bitcoin holders as a proportion of market cap. Calculated as (Market Cap - Realised Cap) / Market Cap.
Bitcoin's price adjusted for monetary inflation (M2 money supply growth). Shows Bitcoin's real purchasing power value over time by removing the effects of currency debasement.