UnRealizedProfit_relative
Tech spec
| Field | Value |
|---|---|
| API name (slug) | unrealized_profit_relative |
| Group | unrealizedprofit |
| Unit / Valuetype | percent / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/unrealizedprofit |
| Tier | 0 |
| Last updated | 2025-08-19 18:54 UTC |
| Docs | Open in Swagger |
Brief Description: The total unrealized profits as % of market cap.
UnRealizedProfit_relative reflects the proportion of investor capital that are currently held at a profit relative to the total market capitalization. It is an on-chain metric that gives an overview of the theoretical losses held across Short Term Holders.
Metric variants
- _lth: UnRealizedProfit_relative restricted to Long-Term Holders (age ≥ 155 days).
- _sth: UnRealizedProfit_relative restricted to Short-Term Holders (age < 155 days).
Interpretation UnRealizedProfit_relative provides valuable insights into sentiment and potential investor behavior. A high UnRealizedProfit_relative might indicate a euphoria context, as investors are holding high profits, potentially leading to increased selling pressure. Investors and analysts use this metric to gauge the sentiment of the market and predict possible support or resistance levels depending on the financial stress among Bitcoin holders.
Advanced Explanation The metric gathers data on all UTXO and compares the current price against the price at which each UTXO was last moved, considering only those held at a profit. The profits are then aggregated to measure the total unrealized profit. To convert this to a relative measure, it is expressed as a percentage of the market capitalization.
UnRealizedProfit_relative = (Total Unrealized Profit / Market Capitalization) * 100
UnRealizedProfit_relative allows us to distill a complex range of data points about profits across individual wallets into a single understandable figure that tracks to the overall market condition.