LTH Realized P/L

LTH daily realized gains

Property	Value
Category	Profit & Loss
Unit	USD
Resolution	1d
Assets	BTC
Tier	Pro
API Endpoint	GET /v1/holder/profit
Field	lth_realized_pl

Overview

LTH Realized P/L measures the daily aggregate profit or loss actually realized by Long-Term Holders when they spend their coins on-chain. LTH/STH classification uses the logistic weighting function centered at 155 days.

Formula

$\text{LTH Realized P/L} = \sum_{i \in \text{LTH spent today}} W_{LTH}(age_i) \times \text{amount}_i \times (\text{price today} - \text{price at acquisition}_i)$

Interpretation

• Large positive values: LTH cohort is actively taking profits — common during late-stage bull markets.
• Large negative values: LTH cohort is capitulating — selling at a loss, typically seen at cycle bottoms.
• Near-zero values: LTH cohort is dormant, neither distributing nor capitulating.

Use Cases

• Distribution tracking: Monitor when long-term holders begin taking profits at scale.
• Capitulation detection: Large negative realized P/L signals forced selling or loss of conviction.
• Market cycle phase: Profit-taking patterns help identify where we are in the market cycle.

API Usage

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/profit?start_date=2024-01-01&end_date=2024-12-31&limit=365"

Related Metrics

• STH Realized P/L — STH daily realized gains
• LTH SOPR — LTH spending profit ratio
• LTH Unrealized P/L — LTH paper gains/losses