Latest Price
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Realized Profit
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-.--% 24h P/L %
ABP Ratio
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-.--% 24h %
Avg Buy Price
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-.--% 30d %
Transactions
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-.--% 24h vol %
Short HODL
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-.--% 30d %
Realized Profit
Average Buy Profit
Why it matters
Bitcoin is often referred to as digital gold due to its hard cap of 21 million coins. Comparing Bitcoin’s price performance directly with physical gold helps investors track whether Bitcoin is acting as an inflation hedge and how its growth rate compares to traditional store-of-value assets. It also allows you to compare other cryptocurrency assets with bitcoin and helps determine whether price changes are correlated to bitcoin.How to read the chart
- Baseline:Use this chart as a baseline to identify long-term macro cycles.
- Compare:Compare BTC price against gold or other assets against BTCto evaluate which asset is attracting more capital relative to its size over specific market cycles.
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Why it matters
High USD transaction volume indicates that the asset is actively being used for commerce, trading, or institutional transfers. A rising trend in volume during a price increase confirms strong market demand, whereas a divergence (rising price on falling volume) can suggest that the upward trend lacks real support.How to read the chart
- Spiking Volume: High economic activity. This often occurs during periods of high volatility, major news events, or at the peak of bull/bear cycles.
- Dwindling Volume: Low interest and low liquidity. This is common during sideways consolidation phases or late-stage bear markets, showing that retail and institutional participants have gone quiet.
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Why it matters
Standard SOPR only looks at the single previous transaction price. ABPR is much more accurate because it calculates the actual average price at which wallets accumulated their coins over time. This gives you a true reading of seller profitability and overall market sentiment.How to read the chart
- Ratio > 1.0 (Above the Red Line): The average moved coin is being sold at a profit. In a strong bull market, the ratio staying consistently above 1.0 indicates healthy profit-taking support.
- Ratio = 1.0 (On the Red Line): This is the break-even point. During bull market corrections, the ratio often dips to 1.0 and bounces back, as investors refuse to sell at a loss, turning break-even into a support level.
- Ratio < 1.0 (Below the Red Line): The average moved coin is being sold at a loss. A prolonged ratio below 1.0 is typical of bear markets, showing capitulation and widespread market distress.
- Holder Filters: Use the filters to switch between "Market" (all market participants), "Long-term holders" (investors holding >6 months) and "Short-Term Holders".
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Why it matters
Long term holders rarely sell, short term holders react quickly to price changes. When coins move from long term holders to new buyers the short term supply grows, when coins stay put they age into the long term supply.How to read the chart
- Short Term Growing: Coins are moving from long term holders to new buyers. The market is becoming more liquid, which historically happens during bull runs and near market tops.
- Long Term Growing: Coins are changing hands less. This typically happens during accumulation phases, when holders are not willing to sell.
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Why it matters
Historically, the Average Buy Price acts as a solid floor for an asset's price, especially Bitcoin. During severe bear market bottoms, the market price often dips slightly below this average buy price, representing a zone of maximum capitulation and a generational buying opportunity. In bull markets, the market price stays well above this line.How to read the chart
- Rising Trend: Indicates that market participants are accumulating coins at higher prices, which raises the overall cost basis of the network. This is typical of bull markets.
- Declining Trend: Indicates that holders are buying coins at lower prices (averaging down) or that older coins bought at higher prices are being sold at a loss. This is typical of bear markets.
- Market Price vs. Average Buy Price: When the market price crosses below the Average Buy Price line, it indicates the average holder is in a net loss. This has historically marked the bottom zone of every major bear market.
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Why it matters
Unlike the market price (which only shows temporary "paper" gains or losses), this chart reveals when investors are actually taking money off the table. Large spikes in realized profits often signal market tops (investors cashing out), while deep realized losses indicate capitulation (panic-selling), which historically marks market bottoms.How to read the chart
- Positive (Green) Bars: Show that holders are selling at a profit, typical of a healthy bull market. Beware of extremely tall green spikes, as they indicate heavy profit-taking that can trigger price pullbacks.
- Negative (Red) Bars: Show that holders are selling at a loss. Massive red spikes indicate capitulation (panic-selling by "weak hands"), which often exhausts sellers and sets the stage for a price rebound.
- Holder Filters: Use the filters to switch between "Market" (all market participants), "Long term holders" (investors holding >6 months) and "Short-Term Holders".