LTH Unrealized P/L

LTH paper gains/losses

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

Overview

LTH Unrealized P/L represents the aggregate paper profit or loss of all coins held by Long-Term Holders, calculated using current market prices. LTH/STH classification uses the logistic weighting function centered at 155 days.

Formula

$\text{LTH Unrealized P/L} = \text{LTH Supply} \times (\text{Market Price} - \text{LTH Realized Price})$

Interpretation

• Positive values: LTH cohort is sitting on unrealized gains. Large values may incentivize profit-taking.
• Negative values: LTH cohort is underwater. This is rare and indicates deep bear market conditions.
• Track the rate of change — rapidly increasing unrealized profits often precede distribution.

Use Cases

• Distribution probability: High unrealized profits increase the likelihood of LTH selling.
• Bear market depth: Negative unrealized P/L has historically marked capitulation zones.
• Portfolio risk management: Gauge whether long-term conviction holders may begin reducing positions.

API Usage

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

Related Metrics

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