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STH SOPR

STH spending profit ratio

PropertyValue
CategoryProfit & Loss
UnitDimensionless
Resolution1d
AssetsBTC
TierPro
API EndpointGET /v1/holder/profit
Fieldsth_sopr

Overview​

STH SOPR (Spent Output Profit Ratio) measures the average profit or loss ratio of coins spent by Short-Term Holders on a given day. LTH/STH classification uses the logistic weighting function centered at 155 days.

Formula​

STH SOPR=∑(1−WLTH(agei))×USD value of outputs at spending time∑(1−WLTH(agei))×USD value of outputs at creation time\text{STH SOPR} = \frac{\sum (1 - W_{LTH}(age_i)) \times \text{USD value of outputs at spending time}}{\sum (1 - W_{LTH}(age_i)) \times \text{USD value of outputs at creation time}}

Interpretation​

  • SOPR > 1: Short-term holders are spending at a profit. Sustained values above 1 confirm bullish trend.
  • SOPR < 1: Short-term holders are spending at a loss — indicates fear and potential capitulation.
  • STH SOPR is more sensitive to price changes than LTH SOPR and crosses 1.0 more frequently.

Use Cases​

  • Trend confirmation: Persistent STH SOPR > 1 confirms healthy bull market conditions.
  • Local bottom detection: STH SOPR dipping below 1 and recovering often marks local bottoms in uptrends.
  • Panic selling identification: Sharp drops in STH SOPR below 1 indicate short-term holder capitulation.

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"